Japan: Former Livedoor Executives Finally Admit to Scandal
An AFP newswire article, via Yahoo! News, reports that:
Former executives of the once high-flying Internet firm Livedoor admitted to fraud allegations as they went on trial for a scandal that rocked Japan's financial and political circles.More here.
The four executives, once known for their casual dress and brash ways, wore dark suits and looked humbly at the ground as prosecutors read charges of hiding losses at the company.
"In principle, I acknowledge that the facts in the indictment are correct," Ryoji Miyauchi, Livedoor's 38-year-old former chief financial officer, told the Tokyo District Court.
posted by Fergie @ 5/26/2006 06:19:00 AM
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