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Finance

Sony Life staffer accused of embezzling $155m while working remotely

Japanese insurer examines oversight system as money remains missing

The suspect in the fraudulent transfer of $155 million worked for both Sony Life Insurance and its SA Reinsurance subsidiary.

TOKYO -- A Sony Life Insurance employee is accused of funneling $155 million from a subsidiary of the company while working from home, raising questions about the Japanese insurer's oversight of remote workers.

The 32-year-old suspect was arrested Monday on allegations that he improperly wired funds from Bermuda-based SA Reinsurance to a U.S. bank account in mid-May. Working outside the office and away from in-person oversight, the man disguised the transaction as legitimate by falsely claiming to have approval from his boss, according to sources familiar with the investigation.

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