The casino boss, who was ousted from the Tiger Resort board last summer, seeks reversal of recent DoJ ruling that recommended fraud charges
Kazuo Okada and his legal team have filed a motion in the Philippines seeking to have the country’s Department of Justice (DoJ) reconsider a recent ruling recommending fraud charges against the Japanese businessman.
The DoJ issued its ruling earlier this month, siding with Tiger Resort, Leisure and Entertainment Inc. that Mr. Okada allegedly misappropriated more than $3 million from the latter company. Tiger Resort is the owner of Okada Manila, an integrated casino resort in which the Japanese tycoon had invested more than $2 billion.
Philippine news outlet the Manila Standard reports that Mr. Okada and his lawyers seek reversal of the DoJ decision. They said in a 14-page motion that the Department’s ruling from earlier this month ignored crucial evidence that proved the contested amount of money was received by the businessman as salaries.
The motion further clarified that Mr. Okada earned lawfully the amount of $3,158,835.63 in the form of salaries for the months of April and May 2017 and a consultancy fee for 2017 as CEO and consultant of Tiger Resort.
Tiger Resort is a subsidiary of Japanese pachinko manufacturer Universal Entertainment Corp. Mr. Okada founded the gaming group more than five decades ago. Last year, the embattled businessman was forced out of the board of Universal and was then removed from Tiger Resort for allegedly misappropriating funds without the approval of board members. He was subsequently ousted from Okada Holdings Ltd., a Hong Kong-based company that owns more than two-thirds of Universal’s stock. Mr. Okada has filed legal action to regain control of Okada Holdings.
Lawfully Earned Money
Seeking to have the Philippine DoJ ruling reversed, Mr. Okada’s legal team has said in the recently filed motion that the contested amount of more than $3 million was earned lawfully by the businessman rather than being acquired by mistake or through fraud as Tiger Resort claimed.
The motion maintained that the amount represented a compensation for his services in 2017 and that that compensation was authorized by former Tiger Resort Chief Operating Officer Takahiro Usui. Mr. Usui had been authorized to sign agreements, including employment contracts, according to Mr. Okada’s latest filing. The DoJ ruling stated that Mr. Usui did not have the proper authorization to sign any documents without the board’s approval. According to news reports, the Department also recommended fraud charges against the former Tiger Resort COO.
Mr. Okada was appointed as CEO and consultant of Tiger Resort in April 2017. He has also filed a lawsuit against Tiger Resort in a bid to have his ouster from the casino company nullified.
Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories.
Related News
Genting Subsidiaries Sell $1 Billion Bond to Finance Vegas Casino Construction
Wynn Executives Concealed Sexual Misconduct Allegations against Steve Wynn
