Alexa

Defense for Japan's former dot-com star to make final arguments Friday

Defense for Japan's former dot-com star to make final arguments Friday

The attorney for Takafumi Horie, a former dot-com mogul accused of flouting Japan's securities laws, is expected to present his final arguments in court Friday.
Horie, 34, the founder of Internet investor and services company Livedoor Co., tumbled from grace last year when he was arrested and charged with violating Japan's securities laws. He has repeatedly said he is not guilty.
During the highly publicized trial, prosecutors have described a complex scheme of dummy companies and stock splits they say Horie orchestrated to inflate Livedoor earnings and share prices.
Livedoor's former Chief Financial Officer Ryoji Miyauchi, who has pleaded guilty in a separate trial, testified that Horie knew about the schemes. Horie has accused Miyauchi of having direct authority over running Livedoor's financial matters.
Whether Horie knew about the alleged scams is central to the trial's outcome.
Horie's trial has drawn widespread media attention in Japan because the outspoken millionaire, a celebrity prior to his arrest, had grown into a symbol of new entrepreneurship in Japan.
The trial has also drawn attention because Horie pleaded not guilty _ a rare move in Japanese criminal trials. Many suspects sign confessions to prosecutors to try to win lighter sentences.


Updated : 2021-03-01 06:56 GMT+08:00