Prosecutors Want Livedoor To Shell Out $2.5M In Fines

Law360, New York (September 14, 2006, 12:00 AM EDT) -- As Livedoor Co.'s securities fraud trial wraps up, prosecutors on Thursday demanded Y300 million ($2.5 million) in fines from the fallen Japanese Internet firm for a scheme to illegally boost stock prices and cook company books.

Prosecutors at the Tokyo District Court are also seeking a 50 million yen ($425,000) fine against Livedoor subsidiary Livedoor Marketing, according to the Associated Press.

Livedoor hasn’t fought the charges—its attorneys filed a guilty plea on behalf of the company.

But Takafumi Horie, the zealous Japanese businessman who launched the...
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