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Livedoor chief denies wrongdoing

Date: January 23, 2006

The chief executive of an Internet portal at the center of a widening securities fraud investigation denied allegations Sunday that he violated securities laws.

Prosecutors raided the Tokyo offices of Livedoor Co. last Monday on suspicion that the company gave false information to inflate its share price. The investigation into the security laws violations triggered a plunge in share prices on Tokyo's stock market.

"I'm innocent of the allegations" in a warrant he received from prosecutors last week, Livedoor CEO Takafumi Horie wrote in an Internet blog posted Sunday. But the popular 33-year-old entrepreneur said he "did not remember 100 percent" exactly what the warrant said.
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