Suicide Of Ex - Jdi Official In Embezzlement Case

Suicide of ex-JDI official in embezzlement case

NHK has learned that a former senior official of LCD panel maker Japan Display died in a suspected suicide after having been dismissed for allegedly embezzling millions of dollars of the company's money.

Investigative sources say the former executive died in a hospital after apparently committing suicide.

Japan Display, or JDI, disclosed last month that the accountant embezzled nearly 580 million yen, or more than 5 million dollars, over a four-year period until October 2018.

JDI dismissed the official in December last year and filed a criminal complaint with the police. It initially said the accountant spent the money on gambling and other personal purposes.

But it later said the official had admitted involvement in improper accounting practices and told the company this was at the request of the top management at the time.

Japan Display has launched a probe into the allegation.

The company was founded in 2012 by the merger of the LCD businesses of Hitachi, Toshiba and Sony.

Although it has received massive financial help from a public-private fund, its liabilities far exceed its assets due mainly to slow demand for smartphones.