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Livedoor’s Horie Formally Charged for Securities Violations

After having his Roppongi Hills offices and apartment raided by Japanese Securities Officials and stock value in his Livedoor dream plummet more than 90%, Takafumi Horie has been formally charged by Japanese authorities with violating Securities & Exchange laws.

Livedoor is one of the most successful integrated web businesses and portals in Japan, and Horie’s cut throat ambition in the business world is as notorious as his love for fun and publicity.

TimesOnline has more : “Japan’s securities watchdog had alleged on Friday that Livedoor Marketing, an affiliate company, had released false information related to the acquisition of a publishing firm in 2004.

The Securities and Exchange Surveillance Commission said the parties involved allegedly lied about Livedoor Marketing’s accounts and the purchase in a bid to ‘entrap others’ and ‘influence the securities market.’”

More Livedoor coverage:

* Executive Linked to Livedoor Scandal Commits Suicide
* Japan Stock Market Rocked By Livedoor Raid
* Livedoor Japan Stock Scandal