Fund manager Yoshiaki Murakami

The Tokyo District Court approved the release of Murakami on bail of ¥500 million, a court spokesman said on condition of anonymity.

In a statement issued through his lawyers after his release, Murakami apologized for having "caused trouble to people in various quarters."

Murakami was indicted for allegedly acquiring about 1.93 million shares of Nippon Broadcasting Systems Inc., based on knowledge that Internet firm Livedoor Co. would try to buy a large stake in the radio broadcaster.

If convicted, Murakami could face up to three years in prison and a ¥3 million fine. The company could be fined as much as ¥300 million.

The Japan Times Weekly: July 1, 2006
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