Index’s former CEO and president arrested for fraud

Former Index CEO Masami Ochiai and former president Yoshimi Ochiai have both been arrested for fraud, Japanese outlet Nikkei is reporting. The two have both been charged with falsifying financial records and inflating profits during their time with the company.

When it was suspected of improper accounting last year, Index eventually filed for bankruptcy and was sold to SEGA Sammy.

Masami Ochiai is pleading his innocence for the time being, stating that he “did not do anything illegal” when asked about Nikkei’s coverage of the situation.

You can find more information over at Siliconera.