Monday June 5, 4:14 PM
Investment fund mogul Murakami arrested over insider trading
(Kyodo) _ Investment fund mogul Yoshiaki Murakami was arrested Monday on suspicion of insider stock trading, investigative sources said.
At a news conference earlier in the day at the Tokyo Stock Exchange, Murakami admitted having engaged in insider trading in connection with his fund's purchases of Nippon Broadcasting System Inc. shares from late 2004 to early 2005.
The Tokyo prosecutors' office believes the Murakami Fund acquired a large quantity of Nippon Broadcasting shares, based on advance knowledge that Livedoor Co., now accused of accounting fraud, would buy up shares in the radio firm, and later made huge profits from selling most of its stake, the sources said.
|
|
|
