Prosecutors on Friday demanded a four-year prison sentence for Takafumi Horie, the former president of Internet firm Livedoor Co., for alleged violations of the Securities and Exchange Law.
"He deceived stockholders and investors without any remorse, for the benefit of his company and for his own profit," prosecutors said in a statement in final arguments in the high-profile Tokyo District Court trial.
Prosecutors accused Horie, a one-time Internet business icon, of "significantly lacking a law-abiding spirit," for alleged illegalities in booking proceeds from the sale of Livedoor shares as profits.