Two Men Involved In Defrauding The IT Firm Vipstar Inc.; Accept Their Allegations

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Two Men Involved In Defrauding The IT Firm Vipstar Inc.; Accept Their Allegations

  • On 23rd January 2020 TOKYO, two men arrested on suspicion of defrauding Bunkyo Ward-based IT firm Vipstar Inc. in Tokyo.
  • The police had also stated that on 29th October, 2018, these two suspects had made a total of 12 unaccredited entries into a bitcoin trader’s account.
  • cryptocurrency withdrawn did not belong to the customers but was a part of the working capital for the company.

On 23rd January 2020 TOKYO, two men arrested on suspicion of defrauding Bunkyo Ward-based IT firm Vipstar Inc. in Tokyo. Large sums of cryptocurrency taken by deceiving, as stated by the Metropolitan Police Department’s Cybercrime Control Division.

The former Vipstar employee Yuto Onitsuka, who is 25 years old and the first suspect, is currently an unemployed resident of the capital’s Nerima Ward. The second suspect, who goes by the name Yakuma Sasaki, 28, is also an unemployed resident of Noda in Chiba Prefecture, east of Tokyo.

Both have alleged to defrauding the company of bitcoin worth a total of around 78 million yen, which accounts for about $712,000. Further, they have also suspected of committing computer fraud and contravening the Act on Punishment of Organised Crimes and Control of Crime Proceeds.

The police had also stated that on 29th October, 2018, these two suspects had made a total of 12 unaccredited entries into a bitcoin trader’s account. Vipstar was managing this account. They reportedly had transferred funds into their accounts by taking help from the report they made for illegal purposes. 

Further, both the suspects have also admitted to their acts. Onitsuka had stated that he could not agree with the management policy of the president at that time. Thus he thought of trying to ruin the company. Sasaki also admitted to his acts telling that he was following Onitsuka’s orders.

The two had struck up a connection through the internet fee years back. They had never met in person, and all their conversations used to take place online. 

As per the cybercrime control division, the fraud caught after Vipstar had approached police in November in 2018. During the time of the incident, Onitsuka was the chief technology officer at the firm. As a result, he bound to have information regarding customers’ accounts and password details.

However, cryptocurrency withdrawn did not belong to the customers but was a part of the working capital for the company.

In addition to this, it also revealed that of the questionable transferred funds, Sasaki had also withdrawn an amount of bitcoin, which is equivalent in value to around 6 million yen so that he could pay off debts and go on a vacation.

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