Unified Communications Industry News

[February 15, 2006]

Horie alleged to have had 30 mil. yen sent to senior LDP lawmaker's son+

(Japan Economic Newswire Via Thomson Dialog NewsEdge)TOKYO, Feb. 16_(Kyodo) _ Former Livedoor Inc. President Takafumi Horie instructed in a company e-mail message that 30 million yen be sent to the son of a senior ruling party lawmaker as a fee for electoral consultancy work, an opposition lawmaker told a parliamentary panel Thursday.

Horie, former head of Livedoor, a Tokyo company being investigated on suspicion of accounting fraud, has been indicted along with three other executives for alleged violations of securities market regulations.

The instruction was for sending the money to the second son of Tsutomu Takebe, the secretary general of the Liberal Democratic Party, according to Yasuhisa Nagata, a lawmaker of the Democratic Party of Japan.

Horie ran in the House of Representatives election last year as an independent to contest an electoral district held by a rebel LDP candidate. Horie received broad support from LDP lawmakers including Takebe.

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