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Tiger Resort criminal complaints vs Kazuo Okada: report

Jan 11, 2018 Newsdesk Latest News, Philippines, Top of the deck  


Tiger Resort criminal complaints vs Kazuo Okada: report

The promoter of the Okada Manila casino resort in the Philippines has reportedly filed in that country a criminal complaint of two counts of fraud allegedly perpetrated by Japanese gaming entrepreneur Kazuo Okada in concert with associates.

Tiger Resort, Leisure and Entertainment Inc made the complaint to the prosecutor in Parañaque City, in the Metro Manila area, said on Tuesday the state-owned Philippine News Agency, citing documents released to the media. Additionally, an allegation of perjury against Mr Okada and one associate was made to the prosecutor’s office in neighbouring Makati City, according to the report.

GGRAsia approached Okada Manila and the respective prosecutors for comment on the media report, but had not received responses by the time this story went online.

In one count of fraud, Tiger Resort reportedly accused Mr Okada of illegal disbursement of company funds amounting to more than US$3.1 million for purported salaries and consultancy fees during a brief tenure as Tiger Resort’s chief executive between April and May last year. The company alleges that such payments “were not authorised, much less approved,” by the firm’s board of directors, according to the complaint quoted by the news agency.

Takahiro Usui, who was at that time Tiger Resort president and chief operating officer, has reportedly also been named a respondent in that complaint.

The second count of fraud related to the supply of LED fixtures to Okada Manila by Aruze Philippines Manufacturing Inc (APMI), a firm reportedly controlled by Mr Okada.

Tiger Resort alleged that a US$7-million supply contract was given to APMI due to pressure from Mr Okada, supported by another associate, Kengo Takeda, who was at the time chief technology officer of Tiger Resort.

APMI and Mr Takeda were named co-respondents of Mr Okada in the second fraud count, stated the news outlet.

Mr Okada was removed as chairman of Tiger Resort in June 2017 during an urgent special stockholders’ meeting. Mr Usui and Mr Takeda were also ousted from their respective positions in the company during the meeting, according to the Philippine News Agency.

In the perjury complaint, Tiger Resort reportedly alleged that Messrs Okada and Usui made false statements under oath in their civil complaint challenging their removal from the firm.

In late December Universal Entertainment Corp – a Japanese gaming conglomerate founded by Mr Okada and which is the parent firm of Tiger Resort – said a wholly-owned Hong Kong subsidiary, Tiger Resort Asia Ltd, had filed a civil lawsuit in Hong Kong alleging damage by former director Mr Okada. Universal Entertainment also filed a lawsuit – on November 27 in the Tokyo District Court in Japan - alleging damages by its founder Mr Okada.

The Japanese conglomerate had announced in early June that it had established an investigative panel to probe Mr Okada’s use of company money, saying it had found three cases in which the Japanese businessman was suspected of misappropriating company funds.

Mr Okada was ousted of Universal Entertainment’s board of directors at an annual meeting on June 29, when the firm’s shareholders approved a new slate of directors.

In September, an investigative report the conglomerate commissioned into Mr Okada, found that the Japanese businessman was responsible for “three acts of fraudulence”.


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