In Nagoya, a young elementary school student was tricked by classmates into giving them a large amount of money, totaling 930,000 yen (about $8,000 USD). It started when a classmate convinced him that a cheap souvenir medal was made of pure gold and would increase in value, leading the student to pay 400,000 yen for it. He was also tricked into buying a Canadian $10 bill for 250,000 yen and old Japanese currency for 100,000 yen, under false pretenses.
The student’s father learned of these incidents when his son confessed, spurred by feelings of being mocked for his family’s finances. The son revealed they had 1 million yen at home, which was actually money being saved by his mother for his future, derived from gifts like New Year’s money.
Some of the classmates’ parents apologized and returned 250,000 yen, but nearly 700,000 yen remains unpaid. The father reported the situation to the police, who are investigating it as possible fraud.
Experts emphasize teaching kids about money, including the ethical aspects, especially in this cashless age. They encourage hands-on experiences, like managing pocket money, to better understand the value of money. The father also wants to educate his son about financial matters, so he knows what he can afford with the money he has.
by MagazineKey4532