Yeah but the FO is way too excessive. This man will likely be homeless when he retires or end up working at a 7-11 into his 70s at this rate. All for seven bucks.
This was presumably just some government-job-specific pension. Japanese law requires paying into a pension scheme so it is doubtful that this is all he had. We also have iDECO and NISA which are like IRA/401k systems.
Seems to be a case of FAFO looking at the article
Yeah but the FO is way too excessive. This man will likely be homeless when he retires or end up working at a 7-11 into his 70s at this rate. All for seven bucks.
This was presumably just some government-job-specific pension. Japanese law requires paying into a pension scheme so it is doubtful that this is all he had. We also have iDECO and NISA which are like IRA/401k systems.
Following the 4% rule (not sure how applicable to Japanese investing this is), $84K would yield ~$280/month. Hopefully this isn’t all he had.
Yeah. Of course, I feel sorry for him, but when he stole in front of a camera he had to know about, well…
He knows about the camera because he was reprimanded several times before.
The case went all the way through the courts and eventually they found this behavior would erode public trust because its embezzlement.
It was not fessing up when he got caught that’s the worst bit