The Japanese company unbanked, which is publicly listed on the Tokyo Stock Exchange, has initiated a lawsuit seeking approximately 1.4 billion yen in damages from its major shareholders and various trading companies. The lawsuit, filed on the 27th in the Tokyo District Court, alleges that unbanked incurred over 1.3 billion yen in losses due to an incident involving unmarked gold bullion transactions that began last summer, resulting in about 61 kilograms worth of gold bullion going unaccounted for.

The defendants include six corporations and nine individuals, among them a consulting firm that became a major shareholder last July. Unbanked has indicated that the lawsuit involves not only those directly responsible for the transactions but also others who may have been involved in the dealings. The transactions, which took place between late July and November 20, were suggested by an executive assigned to the firm by the major shareholder, involving a chain of resale of gold bullion between suppliers and buyers.

Despite the significant amounts transferred in the final two transactions, unbanked claims they received no payment from the buyers. In a public statement, the major shareholder has denied any liability for the damages, asserting that they will fully contest the allegations in the lawsuit; thus, the legal battle appears set to unfold, potentially revealing more about the circumstances surrounding the controversial transactions.