Toshiba sues former employee for fraud

Following detection of fraudulent transactions, Toshiba has filed a lawsuit against a former employee at its U.S. unit.

On Thursday. Toshiba Corp said it has filed a lawsuit against a former employee of a U.S. unit for conspiring with a contractor and defrauding the Japanese industrial conglomerate.

In a statement Toshiba said, following an internal assessment it found evidence that a former facility manager at Houston-based Toshiba International directed work to a construction contractor at inflated prices and received kickbacks.

Toshiba is still in the process of investigating the scale of damages from the fraudulent transactions, which so far appears to have begun in 2011. It is also investigating the role played by any employees in conducting or facilitating the fraud.



Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

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