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Livedoor Execs Charged Tuesday With Falsifying Financial Statements

Company Online Stock Trading By Randy Chen

Online Trading Stock And (AXcess News) Hong Kong - Livedoor and the company's executives, including founder Takafumi Horie, were charged Tuesday with issuing false financial statements.

Stock Investing Course Horie, 33, arrested in January, already faces charges of using stock swaps and stock splits to artificially inflate stock prices, and of giving false information about earnings of a subsidiary. Horie is currently in custody.

Stock System Trading The Tokyo District Prosecutors Officecharged thatLivdoor executives issued false financial statements that showed 5.35 billion Yen in pre-tax profits.

Stock Investing Game The indictment follows Monday's delisting of Livedoor by the Tokyo Stock Exchange and a criminal complaint against Horie and his associates by Japan's securities commission on suspicion of doctoring the company's financial report for the year to Sept. 30, 2004, in breach of the Securities and Exchange Law.

Market Stock Trading Finance Minister Kaoru Yosano said Tuesday the delisting was in line with "a social trend in which companies issuing stocks, as well as brokerages, watchdogs and investors, are required to abide by the rules."

Online Stock Trading Canada In addition to Horie, the complaint filed named former executives Ryoji Miyauchi, Fumito Okamoto and Osanari Nakamura, all 38, as well as Fumito Kumagai, 28, a current executive.

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