Takazumi Fukuhara (left) was arrested at Narita International Airport. Credit line: Rei Muroki / Jiji Press Photo / Profimedia
The former head of a luxury watch-sharing service based in Osaka (Japan) was arrested the other day on suspicion of fraud after being a fugitive abroad for almost two years, writes the Japanese publication Asahi Shimbun.
The Tokyo Metropolitan Police Department arrested Takazumi Fukuhara, 44, the former representative of Neo Reverse, which operated the now-defunct Toke Match sharing service.
Fukuhara, who also used the name Takazumi Kominato, had just returned to Japan from the United Arab Emirates.
According to investigative sources, Fukuhara left for Dubai in January 2024, the same month the ride-sharing service ceased. Tokyo police obtained an arrest warrant and he was placed on the international wanted list.
How the scam worked
Toke Match was a service that “matched users and owners” of luxury brand watches such as Rolexes.
Owners would deposit their watches with the company and receive a monthly payment in return, and the company would rent out the watches to other users.
The service started in January 2021, but cases of watches that were not returned to their owners began to accumulate.
As of May 2024, police in 45 prefectures had received complaints from about 650 people between the ages of 20 and 80, according to sources.
Of the approximately 1,700 watches included in the reports, with a total market value of approximately ¥2.8 billion (€15 million), approximately 1,300 were found to have been sold to 110 pawn shops and second-hand retailers across the country.
Fukuhara used the large sums from the sales to buy cryptocurrencies and transfer funds to accounts linked to online casinos.
In March 2024, the Metropolitan Police obtained an arrest warrant in his name on suspicion of embezzlement for professional purposes.
The National Police Agency also requested that Interpol issue an international search warrant. The charge was later changed to fraud in September of that year.
On December 26, police also arrested a former Neo Reverse employee, Taishi Nakayama, 44, of Osaka, for allegedly conspiring with Fukuhara.
The two are accused of defrauding a 30-year-old Tokyo man of 15 luxury watches worth about 18 million yen (about 100,000 euros).
