A 37-year-old man has been arrested on suspicion of defrauding a man he met through a business matching site, telling him a deposit was needed to secure a loan, police said.
Sawada Seigo, whose occupation is listed as unknown, is suspected of taking ¥2.7 million in cash from a man in his 30s under the guise of a deposit between January and February.
According to the Metropolitan Police Department, Sawada called himself an investor on the business matching site and made contact with the man, who was looking to expand his business. After persuading the man to pay, telling him a deposit was necessary for financing, Sawada stopped responding, the police said.
Sawada has remained silent during questioning. Police are investigating on the view that he has carried out similar frauds repeatedly.
Fraud risk on matching platforms
Business matching sites connect people seeking capital with people offering it, and the identity checks behind those introductions are not described in the account of the case. The man was approached by someone presenting himself as an investor, and the money changed hands before any loan was made.