Ex-Banker in Japan Jailed for Stealing Gold and Cash to Fuel Gambling Addiction
A former employee of Mitsubishi UFJ, one of Japan's largest banks, has been sentenced to nine years in prison for stealing gold bars and cash totaling nearly US$2.6 million (S$3.36 million). Yukari Yamazaki, a gambling addict, exploited her position to pilfer from safety deposit boxes within the bank in Tokyo.
Details of the Crime
Yamazaki, driven by debts incurred through currency trading and horse betting, began her thefts in 2023 and continued into 2024. The Tokyo District Court heard that she abused her inside knowledge to bypass security measures, systematically stealing from the bank's safety deposit boxes.
The court ruling, as reported by AFP on October 7th, revealed that Yamazaki managed to steal gold bars worth more than 330 million yen (S$2.83 million) and over 60 million yen in cash. Judge Hironobu Ono characterized her actions as exceptionally "heinous."
Court Ruling and Aftermath
Despite the fact that Mitsubishi UFJ Bank has only recovered a portion of the stolen funds, and despite Yamazaki's lack of prior criminal record and commitment to seeking treatment for her gambling addiction, the judge deemed a lengthy prison sentence "unavoidable."
"The circumstances surrounding her crime are so heinous that they have rarely been seen before," - Judge Hironobu Ono, Tokyo District Court.
Industry Response
Following other similar thefts by bank employees, the Japanese Bankers Association revised its safety deposit box guidelines in June. A key change specifies that cash "cannot be stored" in such boxes, indicating a move to strengthen security protocols and prevent future incidents.
The case highlights the vulnerabilities within banking systems and the potential consequences of unchecked addiction, prompting industry-wide adjustments to mitigate risks. The sentence of nine years serves as a strong deterrent against similar crimes.
