The Tokyo High Court rejected Livedoor Co. founder Takafumi Horie's appeal Friday and upheld his 2 1/2-year prison term for falsifying financial statements and violating the Securities and Exchange Law, describing the defendant as "lacking dignity."
The high court, upholding a rare unsuspended term for a white-collar offense, dismissed Horie's claim that the penalty was unjustly heavy.
Horie's lawyer, Yasuyuki Takai, said he immediately filed an appeal with the Supreme Court and requested bail for his client.