Japan court sentences top fund manager for insider trading Michael Sung at 10:06 AM ET
[JURIST] A Japanese court sentenced high-profile fund manager and founder of M&A Consulting Yoshiaki Murakami [BusinessWeek profile] to two years in prison and imposed fines and penalties totaling approximately 1.153 billion yen (approximately $9.5 million) Thursday for insider trading of Nippon Broadcasting Systems Inc. (JOLF) [corporate website, in Japanese] stocks ahead of a corporate takeover that prosecutors said netted approximately 3 billion yen (approximately $24.6 million) in profits. Prosecutors, who had sought a sentence of three years in prison, say that Murakami purchased large amounts of JOLF stocks in January 2005 after Livedoor [media website, in Japanese] president and founder Takafumi Horie and senior executive Ryuji Miyauchi informed him of Livedoor's intentions to takeover JOLF during a meeting in November 2004.
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