Business · Companies · 3 hrs ago
Prudential Life fires former agent after new customer money misconduct emerges
Prudential Life Insurance has uncovered new cases of a former agent improperly taking customers’ money.
The former employee was a man in his 40s who worked at the company’s Tokyo-based Metropolitan Area Fifth Branch.
He allegedly offered customers investment deals and took money, and also borrowed from customers to cover living costs and repay other customers.
Some of the conduct happened during the company’s suspension of new sales, which began in February after a major money scandal.
The company says customers came forward after it published an external investigation’s findings on October 8, and it is still investigating; it has not disclosed the amount of losses.
The former agent was dismissed on October 27, and the company will report him to an industry register for people who engaged in improper sales conduct.
Prudential’s sales ban, imposed by the financial regulator after the wider scandal, remains in place until January 31, 2027.
Prudential Life Insurance said it had uncovered new cases of improper money dealings by a former sales employee.
The 40s male employee received money from customers after offering investment opportunities and borrowed from customers, using some of the money for living expenses and other customers’ debt repayments.
Some of the conduct took place while the company had suspended new sales.
The company said it dismissed the employee on October 27 and is investigating; it has not disclosed the amount of customer losses.
- Who
- A former male sales employee in his 40s who worked at Prudential Life’s Metropolitan Area Fifth Branch in Tokyo.
- What
- He improperly received money from customers and borrowed money from them. The company dismissed him.
- When
- Some of the conduct occurred during the company’s suspension of new sales from February. The dismissal was dated October 27, 2026, and the company announced the cases on October 28.
- Where
- The employee worked at Prudential Life’s Metropolitan Area Fifth Branch in Tokyo.
- Why
- The sources say he offered customers investment opportunities and used some borrowed money for living expenses and to repay another customer’s debt. They do not state a further motive.
This story does not have two clearly opposing sides.
Prudential Life suspended new sales following the discovery of a large-scale money scandal.
The company published an investigation report from a third-party committee on the money scandal.
Customers came forward with reports that led to the discovery of additional improper money dealings.
The company dismissed the former employee.
Prudential Life announced the newly uncovered cases.
- Employee
- Male former sales employee in his 40s
- Branch
- Metropolitan Area Fifth Branch, Tokyo
- Dismissal date
- October 27, 2026
- Announcement date
- October 28, 2026
- New-sales suspension
- Began in early February 2026
- Losses
- Amount not disclosed