Controversial gaming mogul Kazuo Okada has come out firing in response to recent reports of his arrest in Hong Kong, claiming he is the victim of a smear campaign at the hands of his former company Universal Entertainment Corp (UEC) and vowing to regain control.
In a lengthy statement issued over the weekend, Okada’s Aruze Gaming Inc noted that no charges have been filed against its founder, instead describing “false and malicious allegations made by Universal Entertainment Corporation and its senior executives.”
“These allegations are the latest attempt by UEC to harm Mr Okada’s reputation,” Aruze said.
“After UEC’s apparently failed attempt to have the Hong Kong Police take action against Mr Okada, it is now relying on the same flawed UEC Special Investigation Committee Report to make spurious allegations to the ICAC. The speed at which UEC issued a press release announcing Mr Okada’s arrest reflects a pattern of repeated attempts to discredit Mr Okada.”
Universal had issued an announcement last Monday in which it said it had been informed by the ICAC that Okada “has been arrested by the ICAC in relation to various corruption related offences” but is currently out on bail, subject to bail conditions imposed on him by the ICAC.
His reported arrest followed Universal subsidiary Tiger Resort Asia Ltd (TRA) filing a complaint after accusing its founder of conspiracy to defraud Okada Holdings – the majority shareholder in Universal – of HK$135 million in 2015. Okada is alleged to have arranged a loan of HK$135 million from TRA to Goldluck Tech Limited to pay for artworks without requesting any collateral and without imposing any interest.
Addressing his arrest, Aruze said that Okada had in fact presented himself to Hong Kong’s ICAC to answer their questions regarding allegations leveled against him by Universal.
“The first time the ICAC heard Mr Okada’s side of the story was when he voluntarily presented himself for questioning. We must take this opportunity to stress that no charges have been filed against Mr Okada either by the ICAC or any other law enforcement agencies in any countries,” Aruze added.
“It is important to note that the concept of arrest is very different in Hong Kong when compared to many other countries, such as the US, Japan, and the Philippines. In Hong Kong it is routine for the police to arrest individuals at early stages of their investigation to interview them. An arrest usually precedes a complete and thorough investigation and it certainly does not mean that the police believe that the arrested person is guilty, or that they have sufficient evidence against that person, or that he will necessarily be charged. No judge or court is involved in the decision to arrest usually, and no probable cause is required in the decision to arrest in Hong Kong.”
The company alleged that news of Okada’s arrest was a deliberate ploy by Universal to discredit its former Chairman, who was frozen out of the board last year amid multiple allegations of fraud.
“It is believed that UEC’s intention is to destroy Mr Okada and break up his family,” Aruze said. “They hope most people reading the latest reports will not understand the details and will simply gain a negative impression of Mr Okada. We reiterate that no criminal charges have been filed. The investigation process will provide the opportunity for the truth to come out.
“Mr Okada is innocent and he is an upstanding, honorable and respectable person. Mr Okada will regain control of the company he founded and repair the damage these acts by UEC have caused his family.”
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