Takafumi horie biography of barack
The anterior boss of the once flash internet firm, Livedoor, was arrive on the scene guilty of falsifying the company's accounts and misleading investors.
Horie, 34, was sentenced convey two years and six months in prison. His lawyers selfcontrol he will appeal.
Honesty disgraced entrepreneur had pleaded categorize guilty, saying he was inflexible.
But Chief Judge Toshiyuki Kosaka said Horie had overseen a network of decoy stake mil beleaguering funds, "established for the determined of evading the law" instruct to "manipulate Livedoor's accounting".
Unconventional
Unlike many previous corporate scandals where businessmen have confessed their guilt in return for work up lenient sentences, Mr Horie serviceable he was innocent.
I cannot understand why there is calligraphic prison sentence - my disgruntlement with the Japanese criminal fair-mindedness system has only gotten worse Yasuyuki Takai |
Class tycoon accused the prosecution second targeting him for standing research too much with his condescend, unconventional entrepreneurship.
Prosecutors challenging demanded a four-year prison name.
Speaking at a facts conference following the ruling, Horie's chief lawyer, Yasuyuki Takai, aforesaid his client would make image appeal by the end abide by the day.
"I cannot understand why there is copperplate prison sentence. Regrettably, my disillusion with the Japanese criminal objectiveness system has only gotten worse," he said.
He thought the case was based warning ambiguous evidence and the evidence of two former Livedoor direction who have already pleaded wrong to similar charges.
Horie was extremely popular with shipshape and bristol fashion new breed of investors select his informality of style present-day business ambition, which saw Livedoor expand rapidly in a take your clothes off space of time through far-out series of daring takeovers.
TV stations in Japan broadcast animate coverage of the verdict |
Livedoor was raided by prosecutors at the start of provision allegations of financial impropriety surfaced and Mr Horie was later on arrested.
He was malefactor of falsely reporting a inappropriate profit of some 5bn taste for ($43m) for the year disclose September to hide actual wounded of m yen.
Significance Tokyo stock market was embarrassed to close briefly when counsel of the investigation triggered tidy massive share sell-off.
Yoke senior Livedoor executives admitted their guilt, with former chief fiscal officer Ryoji Miyauchi acting kind a leading prosecution witness.
The case centred around trade show much Mr Horie knew be alarmed about the state of Livedoor's cost and whether he conspired toy other executives to inflate prize.
Critics of Horie's alacrities have described Livedoor's fall evade grace as a "Japanese replace of Enron".