authoritarian management style. On March 3, 2005, Tsutsumi was arrested on suspicion of violation of securities trading law. Tsutsumi pleaded guilty, and on October 27, 2005, the Tokyo District Court sentenced him to 30 months in prison, suspended for 4 years, and a fine of 5 million yen. His suspended sentence expired in October 2009 and he remains indirectly a major shareholder in Seibu Holdings. Seibu Corporation later sought legal action against Tsutsumi. The parties reached a settlement in 2016, with Seibu receiving ¥25.6 billion. References External links Forbes.com: Forbes World's Richest People Downer, Lesley (1994). The Brothers: the hidden world of Japan's richest family. New York: Random House, Inc. . Disgraced billionaire gets fine, not time asahi.com. October 28, 2005. Tycoon Tsutsumi found guilty of fraud Japan Times Online. October 28, 2005. 1934 births Living people Japanese businesspeople in real estate Japanese hoteliers Japanese billionaires 20th-century Japanese businesspeople 21st-century Japanese businesspeople Japanese white-collar criminals People convicted of insider trading Seibu Group Waseda University alumni IIHF Hall of Fame inductees Recipients of the Olympic Order Japanese ice hockey administrators 1998 Winter Olympics 1998 Winter Paralympics Presidents of the Japanese Olympic Committee