There goes the neighborhood
Police and paparazzi were in full force this weekend in Uncle Swint’s neighborhood.
The target: Yoshiaki Murakami, a self-proclaimed corporate raider who struck fear into Japan's insider-run boardrooms by demanding American-style shareholder rights. Murakami was arrested on Monday on suspicion of insider trading.
According our friend Martin Fackler at the NYTimes: “On Monday, a team of prosecutors raided Mr. Murakami's office in Roppongi Hills, a luxury high-rise complex in Tokyo that has become a symbol of the nation's new rich.”
Well apparently it’s the address of choice for the new corporate criminal class. Mr. Murakami lives just one floor away from the now infamous Horie-san who was arrested a few months ago.
Over the past seven years, Japan's best-known fund manager, Yoshiaki Murakami, 46, has pioneered aggressive Western-style techniques in Japan aimed at squeezing bigger payouts for shareholders from cash-rich companies in a country where investors traditionally have little clout.
On Monday, Murakami, a former trade bureaucrat was arrested after admitting he had violated laws against insider trading in an investment linked to Horie-san scandal-hit Internet group Livedoor Co.
Can you believe that all this is happening right down the block from Uncle Swint’s house? We don’t like to think of our little corner of Tokyo as a high crime neighborhood, but…
posted by Standing Tall @ 1:50 PM
2 comments
2 Comments:
My apologies. It seems that Martin Fackler's article is now password protected. You need a subscription to the NYTimes to view it.
Of course I can believe it is all happening in Uncle Swint's neighborhood. It really is a neighborhood in decline. I understand that most of the criminals have moved into abandoned condo's and distressed store fronts. Many of the residents are morgage holders who overcharged for the original paper and are now left holding worthless notes while the glitter crowd has moved onto safer less flashy gated communities in Nakano ku. I would like to read more though. Would you please ask your friend Mr. Fackler to un-password the article. You are so terribly close after all......
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