Bently official took $2 million from subsidiary, court papers say | RecordCourier.com
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Bently official took $2 million from subsidiary, court papers say

by Christy Chalmers

Bently Nevada Corp. is trying to recover $2 million allegedly embezzled by the manager of a Japanese subsidiary.

District Judge Dave Gamble has signed an order allowing Bently to attach assets belonging to Masayuki Kumagai, a Japanese citizen who formerly managed Nippon Bently Kabushiki Kaisha.

In documents filed Feb. 22 in Douglas District Court, Bently officials claim Kumagai embezzled more than $1 million and gave himself a $700,000 raise.

The embezzlement involved unauthorized transfers of money belonging to Nippon Bently between March 1998 and this year, and the pay raise was taken between 1996 and 2000, the records say. The company discovered the alleged embezzlement during an internal audit.

The records say Kumagai, who has a house in Minden, traveled often between the subsidiary and Bently’s Carson Valley headquarters. Kumagai resigned Feb. 16 and has disappeared, documents say.

Kumagai allegedly took $1.75 million through unauthorized transfers and the self-awarded salary increase, but the documents say the amount lost is believed to be above $2 million.

Bently Nevada makes diagnostic and monitoring systems for machinery. The privately held company employs 1,700 people worldwide, with sales and service locations in 40 countries, and claims $200 million in annual sales. More than 900 people work in Northern Nevada.

Founder Don Bently also owns more than 35,000 acres in Nevada and California.