The high-profile trial of Yoshiaki Murakami wrapped up Tuesday with the flamboyant fund manager maintaining he did not commit insider trading and reiterating that his purchase of Nippon Broadcasting Inc. shares was not motivated by knowledge that Livedoor Co. intended to make a move on the broadcaster.
Rather, Murakami said, he did not believe the Internet firm was capable of buying a major stake in NBS when he heard about the plan in 2004.
Murakami, 47, once among the nation's most illustrious fund managers, was arrested last June for alleged involvement in insider trading of NBS shares in 2004 and 2005. He has maintained his innocence throughout his Tokyo District Court trial.