The luxury watch rental service, known as ‘Tokematch,’ suddenly shut down in January this year, and since then the whereabouts of numerous watches have become unknown. This service, which made a business model of renting watches on behalf of their owners, has seen the former CEO of its operating company, Keisuke Fukuhara (42), become the subject of a warrant issued by the Metropolitan Police Department on suspicion of embezzlement.

The backdrop behind the incident unveils from the report of a single male individual who had entrusted 45 watches to the service. He claimed that his watches were not returned and that he had found information online revealing some of his watches being listed for sale in an auction. The Metropolitan Police Department followed this lead, and came to suspect Fukuhara of embezzlement, believing that he might have sold a Rolex entrusted to him for 650,000 yen.

Fukuhara has since left the country from Narita Airport around the same time his company disbanded and his whereabouts are still unknown. The Metropolitan Police Department continues to investigate, suspecting that other high-end watches paid into custody may not have been properly returned.