Apple provider Japan Show says government embezzled $5.25 million

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FILE PHOTO: Japan Show Inc’s brand is pictured at its headquarters in Tokyo, Japan, August 9, 2016. Information/Kim Kyung-Hoon

TOKYO (Information) – Japan Show Inc stated on Thursday it dismissed an accounting government final yr for embezzling about $5.three million over 4 years because the Apple Inc provider went public in 2014.

JDI stated in a press release it had filed a prison criticism towards the previous worker and that it was cooperating with police. The embezzlement was first reported by the Asahi newspaper on Thursday.

The worker had defrauded the corporate of about 578 million yen ($5.three million) between July 2014 and October 2018 by arranging for funds to be made to a fictitious firm, JDI stated.

The revelation comes because the cash-strapped firm is scrambling to clinch a bailout take care of Apple and different traders, in search of to lift at the least 50 billion yen.

The liquid crystal show (LCD) maker for smartphones has been shedding cash for the previous 5 years and final week reported its 11th consecutive quarterly internet loss on sluggish show gross sales and restructuring prices.

Reporting by Chang-Ran Kim and Makiko Yamazaki; Modifying by Jane Wardell and Stephen Coates