Japanese fund manager Yoshiaki Murakami is facing arrest after his alleged involvement in the Livedoor scandal.
The charges relate to the shareholder violating insider trading laws during a takeover bid of the Livedoor company back in 2005.
Despite saying he unwittingly violated the insider trading laws, Mr Murakami – a former trade ministry official – has now resigned from the fund.
Four other former executives who worked at the internet company Livedoor are also on trial for falsifying corporate accounts.
The 47-year-old Mr Murakami is one of Japan's most notorious fund managers but has admitted his dealings could be construed as unlawful.
He told reporters at the Tokyo Stock Exchange: "I consider myself a pro among pros, but I had to consider the outside possibility that I had made a mistake. I have decided to meekly admit my wrongdoing."
Mr Murakami headed up the MAC Asset Management fund, the headquarters of which were located in Singapore, back in March.