Nagoya – Chubu Electric Power Chairman Satoru Katsuno is considering how to take responsibility for an earthquake risk data fraud scandal involving its Hamaoka nuclear power plant, including the possibility of resigning, informed sources have said.
Chubu Electric is suspected of cherry-picking earthquake vibration data during regulatory screening for restarting the No. 3 and No. 4 reactors at the Hamaoka plant in Shizuoka Prefecture.
The misconduct is believed to have occurred since at least 2012, prompting some to argue that Katsuno, who became chairman in 2015, should be held accountable.
The company has been involved in a series of scandals, including improperly billing costs for decommissioning the No. 1 and No. 2 reactors at the Hamaoka plant and overcharging customers for electricity.
Industry officials have criticized Katsuno, with some saying that “there is no way he can remain…
This type of fraud targets the supply chain and accounts payable departments of businesses.
- Invoice Manipulation: Criminals intercept a legitimate invoice between a supplier and a client and change the banking details to their own. The client pays the bill thinking they are paying their trusted vendor.
- Kickbacks and Bribery: A vendor secretly pays an employee of the purchasing company to ensure their bid is successful or to overlook inflated pricing.