Bank employee gets boot for giving out irregular loans
A male employee of the Bank of Okinawa Co. in his 30’s, who was in charge of the bank’s business transactions with several companies on the island, was terminated after he was found having misappropriated customers’ money.
According to bank officials, the employee lent part of a loan fund of ¥38.65 million that was refunded to the bank from seven client companies to seven other companies as operating funds without following regular procedures. The employee extended the loans between Apr. 17th and Dec. 30th, 2015, He reportedly did not spend any of the money for private purposes.
The case was discovered because of a customer’s inquiry at the end of the last year. The employee has reportedly explained about the irregular loans that there was not enough time to process requests for regular loans due to time-consuming paper work required at a government office.