Embezzlement At Daiwa House Subsidiary

Embezzlement at Daiwa House subsidiary

A major Japanese homebuilder has announced that an executive and 2 others at its subsidiary in China are suspected of embezzling more than 200 million dollars.

Osaka-based Daiwa House declared at a press conference on Wednesday that the money was illicitly withdrawn at a company it jointly set up with a Chinese firm in Dalian.