Japan Display worker suspected of taking $5.4M in fake deals

Japan Display worker suspected of stealing $5.4M in fake deals

TOKYO -- Japan Display Inc. is pursuing criminal charges against an employee it has accused of taking 578 million yen ($5.4 million) in fake deals.

It apologized in a statement to shareholders, customers and other parties for the scandal.

A company spokesman said the company learned about the wrongdoing through a whistleblower and filed a criminal complaint in August.

Japan Display did not provide further details as an investigation continues.

It has racked up red ink for the last five years and has been seeking help from various backers including the government-supported Innovation Network Corp. of Japan,

Japan Display has been a supplier to Nintendo and Sharp Corp. The company has more recently said it will focus on supplying the auto business as well as on the medical equipment and the IoT fields.