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Four Livedoor Staff Arrested

Neowin · Jan 23, 2006 11:26 EST with -1 comments

Despite denying any wrongdoing the head of Livedoor, Takafumi Horie, has been arrested along with three other colleagues in Japan.

The Japanese company has recently caused havoc for the country's Nikkei stock market after staff members have been accused of supplying shareholders with misleading information. Last week Japan's stock market had to close early because the company's shares were being sold at such a high rate.

The businessman who is a well-known personality in Japan recently blogged:

"I have no recollection of doing anything we are under suspicion for."

The company's shares have dropped almost 65%, knocking a massive $4bn (Â£2.2bn, €3.3bn) off of Livedoor's value.

If found guilty, they could be delisted from the stock market and possibly face further action.

View: BBC News Coverage