Prosecutors have questioned Takuo Noguchi former vice president of the Osaka Securities Exchange, in connection with alleged manipulation of the market between 1997 and 2000, investigative sources said Saturday.
Noguchi, 66, was questioned at his home and apparently admitted repeatedly falsifying stock options deals, telling investigators his actions were "aimed at activating the OSE market," the sources said.
Noguchi is suspected of violating the market manipulation clause of the Securities and Exchange Law by organizing fake transactions between July 1997 and March 2000 to make OSE options trading appear to be attracting more participants than the Tokyo Stock Exchange, the sources said.
The two markets started options trading of individual stocks simultaneously in 1997.