Japan Display said on Thursday it dismissed an accounting executive last year for embezzling about $5.3 million over a four-year period spanning 2014-2018.
JDI said in a statement it had filed a criminal complaint against the former employee and that it was cooperating with police.
The employee had defrauded the company of about 578 million yen ($5.3 million) between July 2014 and October 2018 by arranging for payments to be made to a fictitious company, JDI said.
The revelation comes as the cash-strapped company is scrambling to clinch a bailout deal with Apple and other investors, seeking to raise at least 50 billion yen.
MacDailyNews Take: What a circus!
I had a feeling something like that was going on in that company. Shades of GT Advanced Technologies, Apple’s sapphire company. Another bunch of crooks stealing money and giving nothing back. I hope Apple is able to recover that money and put that crook in jail. Some of these companies are just money pits and nothing more. I was hoping JDI would be of some use to Apple for high-quality displays. I don’t know why they’re always strapped for cash but maybe there are more shady dealings going on in that company.
Pull the plug Apple Japan Display is dead…….