Livedoor Co. executives, including Ryoji Miyauchi, the Internet company's No. 2 man, have reversed themselves and are now telling prosecutors that President Takafumi Horie was involved in corporate takeovers currently under scrutiny, investigative sources said Tuesday.
Horie was told about takeovers involving affiliated firms and stock swaps and gave his approval, the executives were quoted as saying.
Horie was replaced as head of the company later in the day.