Elementary Schoolboys Dupe Classmate out of 930,000 Yen

Mar 05, 2024 | News On Japan

NAGOYA - A male student in Nagoya paid approximately 930,000 yen to his classmates over eight transactions. What exactly happened?

A sixth-grade boy attending an elementary school in Nagoya was approached by several classmates between November 2019 and February 2020, who persuaded him to buy commemorative medals and foreign currency, claiming their value would increase.

Among these, a coin that the boy purchased for ¥360,000 was introduced by his classmates as "pure gold, made by a major precious metal store." However, it turned out to be a commemorative medal sold at the Nagoya Port Aquarium.

The boy's father, who reported the incident, said, "They told him that gold is currently worth ¥9,000 per gram, and let him hold it. My son, holding it, misunderstood its value."

The boy was told by his classmates that "the value of gold continues to rise."

The boy had been saving his New Year's money and had boasted at school, "I have ¥1 million. Cool, right?" This is believed to have triggered the transactions involving large sums of money.

The boy's father reflected, "I should have educated him about money from an early stage. I actually apologized to him, saying, 'It was my negligence as a father that led to this.'"

Source: TBS

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