Livedoor Founder Denies Role In Doctoring Profits

Law360, New York (September 5, 2006, 12:00 AM EDT) -- Despite a pledge from the zealous Japanese businessman who launched Internet firm Livedoor Co. that he did not violate securities laws, a prosecution witness painted a different picture Tuesday, testifying that Livedoor manipulated its earnings by selling and buying company shares.

Since the arrest of 33-year-old Takafumi Horie in January, Japan has closely followed the case of the former TV celebrity and entrepreneur who became known for his brazen takeover attempts and defiant nature.

At the trial’s opening Monday, Horie pled not guilty to breaches of...
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