News

Former President of Japanese Internet Company Livedoor Charged

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

Featured Story

North Korean leader Kim Jong Un waves to workers during a visit to the Pyongyang Children's Foodstuff Factory in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang, Dec. 16, 2014.

Video Sony Still Hopes to Release Film About Killing Kim Jong Un

N. Korea denies it hacked into Sony Pictures' computer network and posting embarrassing emails, but praises computer attack as 'righteous deed' More