Livedoor, money laundering as well
More news on this, too interesting too let it go (this is probably the most interesting thing on TV in Japan now together with my newly arrived set of DVDs of the 4th season of Keifer Sutherland's 24). Apparently, yesterday they just discovered a complicated money laundering scheme to avoid paying taxes that Livedoor was using with a paper company in HongKong, then the Virgin Islands in the UK and finally an account in Switzerland. I also saw the first images of reporters inside the Livedoor headquarters and some of the employees explaning how they are removing references to Horiemon from the offices to deattach themselves from him. Another interesting fact is that now Livedoor market cap is lower than their cash balance that is more than $1BB currently, it seems that the stock is about to be delisted so it will be interesting to know what happens with the company since certainly some of their business are very properly run business with customers and profits. I read recently that Enron actually still exists as a company since they are still selling some of the assets that Enron owned when it bankrupted, some of them as big a Portland Electric which is still owned by Enron. The same thing can happen with Livedoor and we can start seeing how the company starts to sell all their assets within the next few months (or years) before the company dissapears.
Carlos
