|
|
|||
|
||||
home
links
about / contact us
|
||||
| Games | Graphics & Design | MP3 & Audio | Internet & Networks | System & Utilities | Home & Education | Business | WebDev | SoftDev |
| Reviews & Articles :: Internet entrepreneur denies fraud charges | ||||||||
| Issue: September 2006 > Business > Article "Internet entrepreneur denies fraud charges" | |||
|
|||
![]() |
|||
|
Takafumi Horie stands accused of illegally boosting the share price of his Livedoor portal
The Japanese businessman who created the Livedoor Web portal appeared in court on Monday charged with violating the country's securities laws. Takafumi Horie, 31, is accused of illegally boosting Livedoor's stock price. The prosecution claims that Livedoor executives had created "dummy" companies to hide Livedoor's losses, falsely inflated the firm's earnings, and circulated false information. Appearing at a court in Tokyo, Horie denied the charges. "I never committed the crimes alleged in the indictment, and I gave no instructions to anybody to commit such wrongdoings," Horie said, according to reports. At its peak, Livedoor and its subsidiaries were valued at around $6bn. Horie himself was seen as a thrusting example of a new, aggressive breed of businessman. Horie and other top Livedoor executives were arrested back in January 2006. This caused Livedoor's share price to plummet, wiping out $4bn of value. The Tokyo stock market's computer systems nearly crashed as traders rushed to offload their shares. Related Links:
September 6, 2006
Author: Graeme Wearden |
|
|
Copyright 2003-2008 - Software Magazine, onekit.com, Legal Notices
You can help improve OneKIT and boomerang will come back.
|
|||||
|
|
|||||
| Sponsored links: Shareware downloads | Hard Drive Recovery | Firevector |