OKAYAMA (TR) – A court docket right here earlier this month upheld a earlier ruling towards handed to a former worker on the Okayama department of Nomura Securities for defrauding clients and others out of practically 100 million yen.
On November 20, the Okayama department of the Hiroshima High Court sentenced the Masahiro Takebe, 53, to 3 years and 6 months in jail, reviews NHK (Nov. 20).
“The first trial ruling found the intent to commit fraud was justified,” mentioned presiding decide Atsushi Shibata of the Okayama department of the Hiroshima High Court.
Takebe had been accused of violating the Investment Law for conspiring with a former colleague to defraud seven clients and others from his time on the department of greater than 97 million yen in complete over a roughly six-month interval although April of final 12 months.
In finishing up the fraud, Takebe, pretended that funding outcomes of the shoppers have been within the black although they have been within the crimson.
During the trial, Takebe denied the allegations.
The first trial was held on the Okayama District Court in June. The court docket sentenced him to 3 years and 6 months in jail, saying that he had “led [the victims] to believe that the investment management results were in the black.” He then appealed.