Prosecutors arrested a senior official at the trade ministry Thursday over insider trading in a 2009 state-led bailout for chip-maker Elpida Memory Inc.
Masaaki Kimura, 53, is suspected of repeatedly buying shares in Elpida Memory under his wife's name from February to May 2009.
If found guilty, he could face five years in prison or a fine of up to ¥5 million.
The Tokyo District Public Prosecutor's Office arrested him on suspicion of violating the Financial Instruments and Exchange Law, which prohibits shady stock transactions. (Japan Times)
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