Fallen Japanese Financier Murakami Released on Bail

Tokyo, July 19 (Jiji Press)–Yoshiaki Murakami, the disgraced pioneer of shareholder activism in Japan, was released on bail Thursday afternoon after being sentenced the same day to two years in prison for insider trading.

Murakami, 47, posted bail of 700 million yen, following a decision by Tokyo District Court to grant his request for release on bail.

He already paid 500 million yen to be released from a Tokyo detention center in June 2006 following his arrest earlier in the month, and was therefore required to pay only 200 million yen this time.

The district court found Murakami, a trade ministry bureaucrat- turned-fund manager, guilty of violating the Securities and Exchange Law after he made huge profits from trading Nippon Broadcasting System Inc. shares based on insider information.END

(c) 2007 Jiji Press English News Service. Provided by ProQuest Information and Learning. All rights Reserved.