Prosecutors in Parañaque City and Makati respectively, in the Philippines, have dropped fraud and perjury complaints against Japanese billionaire entrepreneur Kazuo Okada (pictured). The complaints were filed in January by the promoter of the Okada Manila casino resort.
Tiger Resort, Leisure and Entertainment Inc had made to the prosecutor in Parañaque City a criminal complaint of two counts of fraud allegedly perpetrated by Mr Okada. Additionally, an allegation of perjury against Mr Okada and one associate was made to the prosecutor’s office in neighbouring Makati City.
According to local media reports, the Japanese businessman was last week cleared of any wrongdoing by Makati prosecutors, who cited a lack of evidence. Prosecutors in Parañaque City also dismissed Tiger Resort’s complaint of two counts of fraud, one related with alleged illegal disbursement of company funds by Mr Okada and the second related to a supply contract awarded to Aruze Philippines Manufacturing Inc.
Tiger Resort is controlled by Japanese conglomerate Universal Entertainment Corp. The corporate structure of the latter company has been riven by litigation and feuding stemming from the removal in June last year of founder Mr Okada from the board amid allegations of “three acts of fraudulence” made against the entrepreneur. He has denied the claims.
Mr Okada was removed as chairman of Tiger Resort in June 2017 during an urgent special stockholders’ meeting.
The decision from the Parañaque City prosecutors however was marred in controversy, as the resolution was leaked on social media before being officially published.
Following the incident, Tiger Resort called last week for Parañaque City Prosecutor Amerhassan Paudac to recuse himself from the case. The casino firm filed a motion on Wednesday, accusing the prosecutor of “bias and gross partiality”.
Tiger Resort said in its latest complaint to the court: “Resolutions purportedly disposing the captioned cases in favour of respondent Okada have apparently been leaked… as shown by the unlawful publication thereof in the Facebook and Instagram accounts of his [Okada’s] close companion, Chloe Kim although said resolutions have not been officially released.”
The company added: “There is factual and legal basis to believe that City Prosecutor Paudac is biased and partial in favor of respondent Okada to the grave prejudice of complainant Tiger Resort.”
Sep 29, 2023Macau casino operator Sands China Ltd is to add more cultural and tourism elements to the site of the old Iec Long Firecracker Factory and its surrounding areas in Taipa, as part of a government-led...
Sep 29, 2023
”The Philippines has been the primary growth driver, but really the broader Asian gaming industry is something that’s really important to us”
Chief executive of casino equipment provider Light & Wonder