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▼ Sony Affiliate Suffers ¥900 Mil. Damage From Fictitious Orders
- Category:Other
TOKYO (Jiji Press) — An executive and four employees at Sony LSI Design Inc. have caused some ¥900 million of damage to the affiliate of Japanese electronics and entertainment giant Sony Corp. by repeatedly placing fictitious orders over some four and a half years through September this year, the parent company said Friday.
Through the fictitious orders, placed to a company with business ties, the five illegally had Sony LSI pay funds and embezzled some of the money, according to Sony.
The scheme, uncovered during an internal probe, started in February 2012. The five have already been fired.
Sony said that it will accelerate efforts to investigate details of the fraudulent scheme and that it is considering seeking the five people’s criminal and civil liabilities.
While noting that the incident was very regrettable and offering a deep apology, Sony said that it will immediately carry out personnel and structural reforms at Sony LSI.
The company also underscored its determination to prevent similar irregularities from happening again by further strengthening internal control.
Through the fictitious orders, placed to a company with business ties, the five illegally had Sony LSI pay funds and embezzled some of the money, according to Sony.
The scheme, uncovered during an internal probe, started in February 2012. The five have already been fired.
Sony said that it will accelerate efforts to investigate details of the fraudulent scheme and that it is considering seeking the five people’s criminal and civil liabilities.
While noting that the incident was very regrettable and offering a deep apology, Sony said that it will immediately carry out personnel and structural reforms at Sony LSI.
The company also underscored its determination to prevent similar irregularities from happening again by further strengthening internal control.
- October 31, 2016
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