Japanese ad giant admits to overcharging more than 100 clients
Tokyo-based advertising giant Dentsu has acknowledged that it overcharged more than 100 clients after it conducted a month-long investigation into its own financial records.
The probe turned up at total of 633 business transactions that warranted suspicion — worth about $ 2.3 million overall.
In some cases, its agency properties charged fees for ads that were never placed. There were also instances in which a campaign’s performance was exaggerated in order to hike up the price.
It’s not clear which of Dentsu’s clients were affected, but the holding company said in a statement that it had contacted and apologized to each of them. It also vowed to refund the sum in full. Read more…