Philippine court orders arrest of Kazuo Okada
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Philippine court orders arrest of Kazuo Okada By Tim Poole
A Philippine court has ordered the arrest of former Universal Entertainment Chairman Kazuo Okada.
The Philippine Department of Justice has found cause to indict Okada for three counts of “swindling,” following his acquisition of $3.2m in salary and consultancy fees “through mistake or fraud.”
The charges relate to his tenure as CEO of Manila casino operator Tiger Resort Leisure and Entertainment Inc, according to a Reuters report.
Okada has dismissed the accusations and filed a motion for reconsideration, with his bail fixed at 348,000 Philippine pesos ($6,627).
Last year, Okada was ousted from his role at Universal Entertainment, which is Tiger Resort’s parent company, after being accused of misappropriating $20m.
He denied wrongdoing but is now on bail after his August arrest in Hong Kong for multiple corruption-related charges.
In September, Okada filed a lawsuit against Tiger Resort, claiming his dismissal was “unlawful,” with the aim of being reinstated as Shareholder, Director, Chairman and CEO of the company. RELATED TAGS: Casino | Legal & Regulatory DISCUSS THIS ARTICLE
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