Police on Wednesday arrested a 53-year-old man on suspicion of embezzling ¥120 million from an information technology company run by Kent Gilbert, a U.S. lawyer and television celebrity in Japan.

Toshiaki Kawashima, former president of Tokyo-based V-Network Systems Co., allegedly transferred the money to the account of another company under his management as well as his personal account between October 2009 and April 2010, according to the investigation. Kawashima is suspected of having used the money to purchase a luxury imported car and to finance foreign currency transactions.