Tokyo Prosecutors Block Bail for Livedoor Exec
An AFP newswire article, via Yahoo! News, reports that:
Tokyo prosecutors blocked the release on bail of a former executive of Japan's embattled Internet firm Livedoor.More here.
The Tokyo District Court decided earlier Tuesday to release former Livedoor representative director Fumito Kumagai, 28, on bail of 15 million yen (127,000-dollar), officials said.
But the Tokyo District Public Prosecutors Office complained at the court decision and his release was postponed.
Former Livedoor president Takafumi Horie, 33, and four Livedoor executives including Kumagai have been indicted on charges of tricking investors in order to hide losses at Livedoor.
posted by Fergie @ 4/04/2006 06:15:00 AM
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