More bad news for embattled Japanese internet company
Accountancy Age, 29 May 2006
The former chief financial officer of Livedoor, the iconic Japanese internet company, has admitted to being involved in a shares and accounting scam that shock the country's financial markets.
In the first hearing of his trial in Tokyo, Ryoji Miyauchi admitted to manipulating the company's accounts.
‘I did not know it was a bad thing to do, but I cannot exempt myself from responsibility,’ he said.
Three other ex-Livedoor executives also pleaded guilty to manipulating financial reports.
Livedoor shares were delisted last month.
The race to become the biggest firm on the planet...
Comments
Have your say on this article