Japan Police Hunt for Luxury Watch Rental Service Owner After $13 Million Scam

Around 900 luxury watches worth nearly $13 million have gone missing following the closure of the Toke Match rental service, with its owner fleeing to Dubai.

• Police in Japan are investigating the disappearance of around 900 luxury watches worth almost $13 million after the Toke Match rental service shut down.
• The owner of Toke Match, Takazumi Kominato, is suspected of embezzlement and has fled to Dubai, with Tokyo police seeking an international arrest warrant.
• Some of the missing watches have been spotted on online resale sites, with at least 20 watches confirmed to have serial numbers matching those loaned to Toke Match.
• The Sharing Economy Association Japan reports the country's sharing economy market is rapidly growing, reaching 2.6 trillion yen in the last fiscal year.
• Neo Reverse, the company behind Toke Match, was delisted from the Sharing Economy Association Japan following complaints from watch owners.

3 Articles

Deutsche Welle CNA The Japan Times