More warrants issued over Nomura scandal
Prosecutors served fresh arrest warrants
Monday on a former Nomura Securities Co. employee and an acquaintance for
alleged insider trading involving shares of a subsidiary of major
pharmaceutical company Eisai Co., investigators said.
Li Yu, 30, a Chinese national, and his
acquaintance, Su Chunguang, 37, a Chinese resident of Japan, are believed to
have made about ¥1.4 million through illegal trading of the subsidiary's
All together, they are believed to have
gained a total of ¥50 million from insider trading involving shares of 21
companies, investigative sources said.
Li is suspected of learning that Eisai
would turn Sanko Junyaku Co., a clinical test drug maker traded on the Jasdaq
market, into a wholly owned unit and using that knowledge to purchase 8,000
Sanko shares for about ¥2.6 million in March 2007 through Su's account with a
Eisai made the plan public the following
Li worked in the corporate information
division of Tokyo-based Nomura until last December before being transferred to
The division he worked for in Tokyo is in
charge of dealing with information on corporate mergers, acquisitions and
His position is believed to have given him
access to confidential information that could be used for insider trading.
Li and Su were first arrested April 22 on suspicion of engaging in insider
trading in May 2007 connected to Fujitsu Devices Inc.
The prosecutors have not decided yet whether to indict them and a third
suspect, Su's younger brother, in connection with the Fujitsu Devices case.
The Japan Times: Tuesday, May 13, 2008
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