A former lawyer apprehended last month in Thailand has been placed under arrest in Japan for allegedly manipulating the stock price of an electrical test equipment maker in 2005.
Until he was taken into custody by Thai police in July on a Japanese warrant, the whereabouts of 62-year-old Yasuo Tsubaki had not been known since he left Japan in 2007.
He was extradited to Japan after his capture in Thailand.
Tsubaki, who was arrested Tuesday, is suspected of illegally raising the price of OHT Inc.'s stock to ¥314,000 from ¥270,000 in October 2005, such as by buying shares in the Hiroshima-based company at higher prices using the name of a co-conspirator.
OHT went public on the Tokyo Stock Exchange's Mothers market for emerging companies in 2003. After its share price rose to as high as ¥1.5 million in January 2007, it nose-dived to the ¥100,000 range the following May. As a result, about 30 brokerages are reported to have incurred losses totaling ¥13 billion.
Tsubaki fled to Thailand in 2007 and lived in an upscale condominium, according to police there.