BusinessCompany NewsLivedoor CFO gets 20 months in jail

Livedoor CFO gets 20 months in jail

Ryoji Miyauchi's gamble for leniency by pleading guilty is shot down as he is sent to prison by Tokyo court for his central role in the Japanese internet company's accounting scandal

The former financial chief of defunct internet company
Livedoor
has been hit with a 20-month prison sentence for manipulating the company’s
accounts.

Miyauchi had expected that his co-operation in giving evidence against his
former chief exec Takafumi Horie would result in a much lighter or suspended
sentence – as has been the case for other top Japanese executives that have
pleaded guilty after being embroiled in scandals.  

Miyauchi bit hard on his lip as the judgment was handed down. ‘Give me a
chance to go free and I will make it up to the people I harmed,’ he vowed before
the verdict was delivered.

The judge, Toshiyuki Kosaka said that although Miyauchi’s confession had
‘come from the heart’, the attempt to take all the blame for the scandal – and
thereby to cover for Horie – deserved a stiff sentence. Judge Kosaka added that
Miyauchi had played an integral part in ‘planning and executing criminal
schemes’.

Three other senior Livedoor executives, including the president of Livedoor
Finance, Osanari Nakamura, were each handed suspended sentences of about 18
months each.

Livedoor CFO admits to fiddling
accounts
 

Livedoor boss jailed for two and a half
years

Livedoor sells financial business arm

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