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|23rd Jun 2006||Fraud Investigation||Top Japanese fund manager charged|
|One of Japan's leading financiers has been charged with insider trading in relation to share deals involving internet business Livedoor.
Prosecutors have indicted Yoshiaki Murakami, who is currently under arrest, after pursuing a criminal complaint from stock market regulators.
Mr Murakami has admitted he was guilty of insider trading when buying shares in Nippon Broadcasting System in 2005.
He said he bought shares knowing that Livedoor would buy a stake in the firm.
Mr Murakami is then understood to have sold shares to Livedoor, the once high-flying internet business which has become immersed in scandal, through his investment firm MAC Asset Management.
If convicted, Mr Murakami - who said he acted unwittingly - could face up to three years in prison and a fine of 3 million yen ($25,900).
His company could face financial penalties of up to $2.5m.
Prosecutors said Mr Murakami's company bought shares worth $8.5m in Nippon, which soon after became the subject of a fierce takeover battle between Livedoor and Fuji Television.
The fallout from Livedoor's spectacular rise and fall has affected Japan's whole financial community.
Four former Livedoor executives are currently on trial accused of fraud and falsifying corporate accounts, while the firm's founder Takafumi Horie has been charged with breaking securities laws.
Japan's central bank governor, Toshihiko Fukui, has been heavily criticised for investing in high-risk funds run by Mr Murakami.
Mr Fukui has apologised for his actions, amid calls from ministers for him to restore the institution's credibility.
|Other Reports on Livedoor|
|23rd Mar 2007||Fraud Investigation||Livedoor||Japanese tycoon and his staff guilty of fraud|
|4th Sep 2006||Fraud Investigation||Livedoor||Livedoor's Horie pleads innocence|
|5th Jun 2006||Fraud Investigation||Livedoor||Fund chief is arrested in continuing Livedoor scandal|
|25th May 2006||Fraud Investigation||Livedoor||Livedoor executives go on trial|
|16th Mar 2006||Other Issue||Livedoor||Livedoor shareholder to sue firm|
|13th Mar 2006||Fraud Investigation||Livedoor||Tokyo exchange to delist Livedoor|
|12th Mar 2006||Fraud Investigation||Livedoor||Livedoor boss facing new charge|
|13th Feb 2006||Fraud Investigation||Livedoor||Livedoor chief Horie is charged|
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