Livedoor's Horie applies for bail

0 Comments | AFP, February, 2006

TOKYO, Feb 16, 2006 (AFP) — Takafumi Horie, the founder of Internet company Livedoor jailed in a spectacular fall from grace, applied to be released on bail, news reports said.

His lawyer submitted the application to the Tokyo District Court three days after the 33-year-old was indicted for alleged violation of securities laws, Jiji Press and Kyodo News said on Thursday.

The court will decide on whether to approve it after hearing from the lawyer and officials of the Tokyo Prosecutors Office.

The Livedoor founder has been jailed since January 23, a far cry from his glamorous office and residence in the towering Roppongi Hills complex.

Horie was once hailed as a harbinger of a new brash Japanese corporate culture, showing up to work in a tee-shirt and...

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