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 TOKYO (AP) - Japan has been abuzz with the unusually harsh prison term handed to former Internet kingpin Takafumi Horie — and the slap on the wrist given to scandal-tainted brokerage Nikko Cordial in another high-profile case of accounting regularities.
Horie, founder of Internet portal site operator Livedoor Co., was sentenced to 2 1/2 years in prison last week for violating securities laws in falsifying earnings. Four other former top executives at Livedoor, facing similar charges, were also convicted Thursday.
In contrast, no one at Nikko Cordial, which has admitted to inflating profits the previous two fiscal years, has been charged.
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