Horie’s jail sentence finalized

Kyodo

The Supreme Court said Saturday it has rejected an objection by Takafumi Horie, the former president of Internet company Livedoor Co., to its ruling supporting his imprisonment over accounting fraud, finalizing his 30-month prison term.

The top court’s latest decision was dated Friday, and the Tokyo High Public Prosecutor’s Office is expected to begin procedures soon to imprison Horie, 38.

Horie is likely to serve a maximum of around 28 months as a lower court recognized he has already served 40 days in detention.

On April 25, the Supreme Court’s Third Petty Bench dismissed Horie’s appeal, upholding lower court rulings that found him guilty of fabricating ¥5.3 billion in revenues with other Livedoor executives in the reporting of the company’s group earnings for the business year through September 2004.

A group of lawyers for Horie had lodged an objection with the top court over its decision.