Former Nomura Securities Employee Arrested for Fraud

   Tokyo, Feb. 6 (Jiji Press)--Tokyo police have arrested a former employee of Nomura Securities Co. on suspicion of defrauding a client of 10 million yen with a fake investment offer, it was learned Thursday.
   According to the Metropolitan Police Department, 30-year-old Yuta Cho has admitted to the allegation, telling investigators, among other things, that he used the name brand of the leading Japanese brokerage house.
   Cho, a resident of Yokohama, south of Tokyo, is suspected of fraudulently making a resident of Tokyo's Nakano Ward in her 70s transfer 10 million yen to his bank account in January 2024, when he was working at the securities firm's head office. He allegedly lied to the woman that Nomura Securities employees were allowed to make in-house installment deposits and that he would be able to return the money to her with an annual interest of 2 pct with the principal guaranteed.
   He may have used a similar scheme to cheat the woman out of tens of millions of yen, according to investigative sources.
   The suspect, who was in charge of sales to wealthy clients, began serving the woman around September 2022, police said.

(2025/02/06-16:34)

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