Four Livedoor Execs Sentenced in Japan
March 21, 2007
TOKYO – A Japanese court on Thursday sentenced Ryoji Miyauchi, former chief financial officer of dot-com company Livedoor, to 20 months in prison for inflating earnings reports.
The Tokyo District Court also handed down suspended prison terms to three other Livedoor officials for similar offenses.
The rulings came a week after the same court sentenced the company’s founder and former chief executive, Talafiko Horie, to 2 1/2 years in prison.
The executives were accused of using a complex set of such schemes to fabricate 5 billion yen, or $42.5 million, in profit. Judge Toshiyuki Kosaka has said Miyauchi was the chief architect of some of the schemes.