Livedoor’s Horie jailed
p2pnet.net news:- “Today is D for Decision Day for Takafumi Horie, the man who started Livedoor Co and who’s accused of giving misleading information to shareholders with fears that ‘more problems may emerge’” p2pnet posted on December 22 last year.
And now he knows his fate.
He’s been sentenced to two-and-a-half years in jail, “in a case that has come to symbolize the challenges Japan faces in policing rising start-ups,” says Associated Press.
Chief judge Toshiyuki Kosaka said Horie, ‘masterminded an elaborate network of decoy investment funds’ that were ‘established for the purpose of evading the law” and to ‘manipulate Livedoor’s accounting’,” says the story.
The defense team appealed the ruling shortly after the verdict, iot says adding that Horie, who pleaded not guilty, posted bail at $4.3 million, according to an anonymous court official.
Also See:
p2pnet – D-Day for Takafumi Horie, December 22, 2006
Associated Press – Livedoor founder gets 2 1/2 years in prison, March 16, 2006
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