He was convicted of insider trading in 2007, but has resurfaced in recent years as an investor, agitating for change at companies including Toshiba Machine. Carlyle had teamed up with JAG Chairman and Chief Executive Officer Tetsuo Yamashita in November for a management buyout of JAG, but gave up on its bid in February after City Index Eleventh built a stake in the company and offered a higher bid to buy the rest of the shares. JAG shares were halted on the Tokyo Stock Exchange after trading earlier at around 1,083 yen.