Prosecutors on Wednesday arrested Livedoor Representative Director Fumito Kumagai in connection with the alleged accounting fraud in which his former colleagues are embroiled, putting the firm one step closer to being delisted.
They also served fresh warrants on former Livedoor Co. President Takafumi Horie and three other ex-executives on suspicion of falsifying the company's financial figures for the business year through September 2004.
The new warrants allow Tokyo prosecutors to continue to hold for further questioning Horie and the other three, who have been in custody since Jan. 23 for alleged securities law violations.
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