TOKYO, Nov 18 (News On Japan) - A British man has been arrested on suspicion of swapping genuine cash for counterfeit money in a gold trade scam, stealing 13 million yen from a business partner, Tokyo police revealed.
The arrest occurred on the morning of November 15th at the Kojimachi Police Station in Chiyoda Ward.
According to the Metropolitan Police Department, in October 2023, the suspect, Joe Kupoto, 40, along with an accomplice, met with the victim and a broker at a restaurant under the guise of conducting a gold trade. The victim brought 13 million yen in cash, sealed in a paper bag, to purchase the gold.
Kupoto reportedly took the cash and spent about an hour under the table counting it. During this time, he is believed to have swapped the genuine money with counterfeit bills. Afterward, he tightly taped the paper bag shut and returned it to the victim, claiming the cash would be secured until the authenticity of the gold could be confirmed.
The victim and Kupoto's accomplice then left to verify the gold’s authenticity at a gold purchasing shop. However, midway, the accomplice excused himself, saying he had urgent matters to attend to, and left the scene.
Meanwhile, Kupoto and the broker waited at a hotel. When the victim returned, Kupoto had already disappeared. It was then discovered that both the gold and the cash were fake.
Kupoto has denied the allegations, telling investigators, "I have no idea what you’re talking about." The investigation is ongoing.
Source: FNN
