Controversial tycoon Takafumi Horie has been found guilty of fraud, following a six-month trial which has gripped corporate Japan.
The former boss of the once high-flying internet firm, Livedoor, was found guilty of falsifying the company’s accounts and misleading investors.
Horie, 34, was sentenced to two years and six months in prison
Takafumi Horie, former boss of Japanese internet firm Livedoor who quit amid a corporate scandal, has pleaded not guilty to fraud charges in court.
Mr Horie denied violating securities laws by falsifying profit figures to boost Livedoor’s share price.
The 33-year old faces a maximum of five years in jail if found guilty
One of Japan’s leading financiers has been charged with insider trading in relation to share deals involving internet business Livedoor.
Prosecutors have indicted Yoshiaki Murakami, who is currently under arrest, after pursuing a criminal complaint from stock market regulators.
Mr Murakami has admitted he was guilty of insider trading when buying shares in Nippon Broadcasting System in 2005
A leading shareholder activist in Japan has been arrested after being drawn into the Livedoor scandal rocking the country this year, prosecutors say.
Fund manager Yoshiaki Murakami had said he had unwittingly violated insider trading laws in connection with a takeover initiated by Livedoor in 2005.
The former trade ministry official also said he would resign from his fund
Executives of Livedoor, the scandal-hit Japanese internet company, have gone on trial charged with breaking stock market rules and falsifying accounts.
The four men were arrested earlier this year with Livedoor’s founder and charismatic head boss Takafumi Horie.
Mr Horie, who rose to prominence for his willingness to attack Japan’s staid and traditional business world, will face trial on his own at a later date
One of Livedoor’s main investors is to sue the scandal-hit Japanese firm for compensation, saying it bought its stake under false pretences.
Broadcaster Fuji Television Network said it acquired the 12.5% stake on the basis of false financial information
The Tokyo Stock Exchange is to delist internet firm Livedoor’s shares over allegations it broke securities law.
The Tokyo exchange said the action would result in the firm being removed from the market by mid-April.
The move came after Japan’s securities commission filed a criminal complaint against five former Livedoor executives for allegedly falsifying of accounts
Japanese internet firm Livedoor’s former boss and other executives could be charged with falsifying financial results this week, reports have said.
Prosecutors claim the group doctored accounts to show a 5.3bn yen ($44
Takafumi Horie, the former boss of Japanese internet firm Livedoor, has been indicted on charges of breaking securities laws, according to reports.
Together with three other Livedoor executives, Horie has been in custody since 23 January, when he was arrested on suspicion of misleading investors.
The Kyodo news agency said they are accused of spreading false financial information about a takeover in 2004