TOKYO (TR) – Sony Life Insurance Co. introduced on Thursday that 4 of its gross sales representatives swindled 14 clients out of roughly 120 million yen by means of fraudulent funding schemes and unauthorized private loans, stories Kyodo News (May 28).
According to the corporate, the workers abused their positions to solicit funds from current policyholders by pitching faux investments or asking to borrow cash—actions fully unrelated to their official duties as insurance coverage brokers.
The revelation is a part of a sweeping, ongoing inside probe protecting all 2.8 million Sony Life policyholders. The firm said that the present findings are based mostly totally on stories from clients who got here ahead suspecting they’d been victimized.
So far, investigators have discovered no proof that official insurance coverage premiums or payout funds have been straight embezzled.
The huge inside investigation was triggered in March after a rogue gross sales consultant at a Yokohama City department was caught borrowing a staggering 2.2 billion yen from roughly 100 clients. That worker was subjected to disciplinary dismissal for extreme violations of firm rules.
Sony Life expects to conclude its full investigation by the tip of November and plans to launch a progress report in mid-September.