News

Former President of Japanese Internet Company Livedoor Charged

TEXT SIZE - +

The former president of the Japanese Internet firm Livedoor has been indicted on charges of violating securities laws.

Takafumi Horie and three other executives of the company were charged Monday with spreading false financial information about a takeover in 2004.

The four were arrested in January on suspicion of giving false information about Livedoor's subsidiaries to manipulate share prices and to cover up losses. They are in custody in a Tokyo jail.

Horie denies any wrongdoing.

The scandal has shaken Japan's business world and stock market. Livedoor's shares have plummeted almost 90 percent since the investigation began.

Some information for this report was provided by AP and Reuters.

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Feature Story

Pope Francis incenses the faithful as he arrives to celebrate an Easter Sunday Mass in St. Peter's Square at the Vatican Sunday, April 20, 2014.

Photogallery Pope's Easter Prayer: Peace in Ukraine, Syria

Pontiff also called for an end to terrorist acts in Nigeria, violence in Iraq, and success in peace negotiations between Israelis and Palestinians More