Livedoor CFO admits to fiddling accounts

Livedoor CFO admits to fiddling accounts

More bad news for embattled Japanese internet company

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.

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