The Tokyo District Court decided Tuesday to grant bail to former Livedoor Co. Representative Director Fumito Kumagai, who has been indicted for corporate accounting fraud and has been in detention since his arrest Feb. 22, court officials said.
Kumagai’s lawyers first asked for bail on March 14, when the 28-year-old right-hand man of former Livedoor President Takafumi Horie was charged with fabricating the company’s financial report for the business year to Sept. 30, 2004. That request was denied, and the lawyers filed a new one Monday.
Of the five men charged with fraud, only Horie remains in detention.
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