Prudential Life reports 500 customers bilked in funds scandal
Prudential Life Insurance Co. has revealed that approximately 100 employees fraudulently obtained 3.14 billion yen ($20 million) from about 500 customers through fictitious investment schemes and unreturned loans. President and CEO Kan Mabara will resign to take responsibility, as the company publicly apologized for the scandal. This follows a previous resignation by the parent company's chairman in October 2025 related to similar issues, and an ongoing internal investigation initiated after an employee's arrest in June 2024.
https://www.asahi.com/ajw/articles/16289807