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Japanese ski resort owner convicted of insider trading and false accounting
 Poster: A snowHead
Poster: A snowHead

Yoshiaki Tsutsumi, a railway and ski resort owner once ranked as 'the world's richest man' by Forbes magazine, has been convicted of falsifying company records and insider trading.

Tsutsumi, described in the report below as a "charismatic billionaire", who ruled his companies with "an iron hand", developed a chain of ski resorts, hotels and golf courses. He was charged with under-stating his private company's stake in a publicly-quoted company, Seibu Railway. He breached trading rules on the Tokyo Stock Exchange in doing so.

Tsutsumi was given a 2.5 year prison sentence, suspended for four years. He was fined 5 million yen ($43,200 US).

This report from Daily Press, Virginia.
Quote:
The trial highlighted a shift in Japan away from old-style insular management as the nation increasingly globalizes and attracts foreign investment. Japanese companies have long been characterized by an old-boy network that largely neglected investors and consumers.

Anyone know which Japanese ski resorts he owned, or owns?
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