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More Livedoor Executives Arrested
Business Brokerage By Randy Chen
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Forex Broker (AXcess News) Hong Kong - More executives from Japanese Internet company Livedoorwere arrested, according to Tokyo press. Japan's Asahi Shimbun newspaper reported that prosecutors in Tokyo arrested Livedoor's representative director, Fumito Kumagai, and issued new arrest warrants against the company's former CEO Takafumi Horie, along with other executives who like him have already been charged.
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Online Brokerage The three others were Ryoji Miyauchi, 38, the former No. 2 man at Livedoor; Fumito Okamoto, 38, a former executive of Livedoor and former president of Livedoor Marketing Co.; and Osanari Nakamura, 38, former president of Livedoor Finance Co.
Before the Internet, end brokers that catered mainly to executive clientele, who sought the best seats in the house and tended to be less price sensitive.
Real Estate Broker Prosecutors also arrested Fumito Kumagai, 28, the representative director of Livedoor who had served as a close aide to Horie. Livedoor said board member Noriyuki Yamazaki, 34, replaced Kumagai on Wednesday.
Additionally, Glen is the broker owner of The Real Estate Office Co., a 10 year old active real estate brokerage business specializing in the disposition of REO properties across South Florida. Glen is a licensed mortgage broker (Florida), registered real estate appraiser, national consultant for REO disposition, licensed real estate broker (Florida). Glen has over 17 years of experience in banking, real estate investing and real estate management and sales.
Agency Brokerage Spark The five are suspected of window-dressing Livedoor's settlement of accounts in September 2004 by illegally inflating its profits by about 5.3 billion yen.
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Business Broker Horie, 33, Miyauchi, Okamoto and Nakamura were arrested last month on suspicion of spreading false information in connection with Livedoor Marketing's takeover of a publisher in 2004.
Brokerage Account Horie has denied any wrongdoing.
Stock Broker But Kumagai, who replaced Horie as holder of Livedoor's representation rights immediately after Horie's arrest on Jan. 23, admitted to some of the window-dressing allegations against him when he volunteered himself for questioning by prosecutors, investigative sources said.
Brokerage Online Stock Trading The Tokyo Stock Exchange is expected to soon decide to delist Livedoor from the Mothers market for start-ups.
Broker Justin Ticket The hype and bad publicity has damaged the Tokyo Stock Exchange's reputation. Regulators there have never had this much global embarrassment in a stock swindle before. When the scheme was first exposed it caused such heavy trading that it computers at the Tokyo Stock Exchange shut down automatically, halting all trades.
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