BRIEF-Prudential Financial's Japan Operations Suspected Of Fraud At Gibraltar Life Unit, Nikkei reports

Prudential Financial, Inc.

Prudential Financial, Inc.

PRU

0.00

April 22 (Reuters) - The Nikkei newspaper -

  • PRUDENTIAL FINANCIAL'S JAPAN OPERATIONS SUSPECTED OF FRAUD AT GIBRALTAR LIFE UNIT

  • A SECOND JAPANESE UNIT OF PRUDENTIAL FINANCIAL SUSPECTED OF SEEING DOZENS OF INSTANCES OF MISCONDUCT BY FORMER EMPLOYEES

  • DURING INVESTIGATION, CASES SURFACED WHERE FORMER EMPLOYEES OF GIBRALTAR LIFE INSURANCE, SUSPECTED OF MISHANDLING CUSTOMER FUNDS, SAY SOURCES

  • CASES AT GIBRALTAR ARE SUSPECTED INCIDENTS THAT HAVE YET TO BE CONFIRMED

  • COMPENSATION COMMITTEE WILL EXAMINE EACH CASE AT GIBRALTAR TO DETERMINE WHETHER RESTITUTION IS NEEDED & HOW MUCH

  • FINANCIAL SERVICES AGENCY HAS LAUNCHED AN ON-SITE INSPECTION OF PRUDENTIAL HOLDINGS OF JAPAN


Further company coverage: PRU.N


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