Post office execs embezzled 540 mil. yen in stamp-selling scandal

Two executives at post offices in Tokyo embezzled some 540 million yen ($5 million) by privately selling used stamps earmarked for shredding, sources close to the matter said Thursday.Japan Post Co., a unit of state-backed Japan Post Holdings Co., retrieved the cash and dismissed them in fiscal 2018, but had not disclosed the incident, the sources said.The company found that an executive working at Kanda Post Office sold 400 million yen of stamps, while the second -- employed at Shiba Post Office -- had offloaded 140 million yen of them, in the three fiscal years through March 2017.The stam…READ FULL ARTICLE