Livedoor Founder Gets Prison Time

[HardOCP News]

The founder of Livedoor, Takafumi Horie, was found guilty of securities laws violations and sentenced to two and a half years in prison. Horie appealed and posted $4.3 million in bail.

Takafumi Horie was found guilty of securities laws violations and sentenced to two-and-a-half years in prison on Friday, in a case that has come to symbolize the challenges Japan faces in policing rising start-ups. The defense team appealed the ruling shortly after the verdict. Horie, who pleaded not guilty, posted bail at $4.3 million.

 

[Ockie]

$1.3 billion dollars (now $280,000,000) for 2.5 years in the slammer? Where do I sign up?!?

 

[stonedwaldo420]

$1.3 billion dollars (now $280,000,000) for 2.5 years in the slammer? Where do I sign up?!?

That is how white collar crimes work. The only reason they even bother trying and punishing these people is to prevent public backlash. They then just try to not mention the fact that the criminal is still getting away with millions of dollars. While this was in Japan, it is just as bad (if not worse) here.

Imagine if I robbed a bank, got $10M, had to pay $2M in fines, spend some time in jail (obviously being released early for good behavior) and then got to retire on that remaining $8M? well… obviously if that was the case, I would be buying a ski mask right now!

Unfortunately, laws are written to benefit those who write them. Right now it is the wealthy. During the founding of our nation it was white men who owned property. Somehow I don’t see that changing anytime soon. I am afraid that we will all have to get used to it…. Or commit securities fraud and retire in luxury!!!!