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Insurance Swindler Arrested

Date Posted: 2000-09-15

A former insurance agent, who disappeared from his agency after taking •22 million of his mostly elderly customersí money, starting seven years ago, was arrested by Naha District Prosecutorsí Office Monday. The man had run the agency in Nagano, and returned to his native Okinawa after his customers began to ask about their investment money they had trusted him with. The limit for pursuing charges of theft is seven years in Japan, and the most the prosecutors can charge the man with is a theft of •3.9 million. The statute of limitation would have run out in December on all charges had the prosecutors and police been unable to find the man.

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