BusinessCompany NewsJapanese internet boss pleads not guilty

Japanese internet boss pleads not guilty

Massive accounting fraud case goes to trial

Takafumi Horie, the former chief executive of Japanese internet services
group, Livedoor, has pleaded not guilty to charges that he collaborated with
former executives to falsify corporate accounts and boost the company’s share
price.

The trial began in Tokyo this week with Horie denying that he manipulated
Livedoor’s financial figures for the year to September 2004 and spreading false
information in an attempt to raise the share price of a group subsidiary.

Horie, 33, is a self-made millionaire who built Livedoor into one of Japan’s
leading internet companies,

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