• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 2 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Philippine DOJ recommends filing of charges against Kazuo Okada for fraud

Newsdesk by Newsdesk
Tue 18 Dec 2018 at 06:58
Universal prepares “organizational realignment” to prevent Okada involvement amid enhanced casino equipment business plans

Kazuo Okada

Print Friendly, PDF & Email

The Philippine Department of Justice (DOJ) has recommended charges be filed against Kazuo Okada for alleged fraud during his tenure as Chairman of Okada Manila operator Tiger Resort Leisure and Entertainment, Inc. (TRLEI).

The DOJ’s resolution was made public on Monday and reverses a ruling by the Office of the City Prosecutor in Parañaque in May dismissing fraud charges laid against the controversial Japanese gaming mogul.

Okada is accused of acquiring more than US$3 million through three instances of “mistake or fraud” before he was ousted from the board following discovery of the anomalies in 2017.

TRLEI’s parent company, Universal Entertainment Corp, first alleged in June last year that it had uncovered evidence that Okada had transferred HK$135 million on 20 March 2015 from Tiger Resort Asia Ltd to a third party. HK$130 million was then transferred to Okada Holdings Ltd with the purpose of achieving “personal benefit for Chairman Okada.”

Two more alleged instances of fraud were discovered a month later, including a US$80 million bank loan granted to Okada Holdings Ltd – a company entirely owned by Okada and his relatives of which Okada was the only director at the time – in February 2014 for the purchase of land in Korea, and the issuance of a bearer check in the amount of HK$16 million from a bank account under the name of Tiger Resort Asia Limited in 2015.  Okada is alleged to have then withdrawn HK$16 million from a Tiger Resort Asia Limited account based on this check three days later.

The Philippine DOJ stated in its resolution this week that the US$3 million amount to which Okada is said to have benefited was not approved by the TRLEI board as required by the company’s by-laws.

“Such actions … in violation of the complainant’s by-laws is enough probable cause to conclude that the release of amounts were irregular and done to the prejudice of the complainant,” the resolution states.

In a recent lengthy interview with Inside Asian Gaming, Okada claimed he had been set up by factions within Universal Entertainment Corp and outlined his intent to eventually regain control of the company.

RelatedPosts

APAC-facing gaming companies to see 70% aggregated EBITDA decline in 2020: Moody’s

The APAC iGaming Boom: Key trends and strategies in 2025

Wed 2 Jul 2025 at 15:37
PAGCOR donates US$888,000 to Bureau of Immigration to help fund deportation of former POGO workers

PAGCOR donates US$888,000 to Bureau of Immigration to help fund deportation of former POGO workers

Tue 1 Jul 2025 at 08:54
Cebu’s NUSTAR Hotel makes immediate mark by entering Michelin Guide Hotel List

Cebu’s NUSTAR Hotel makes immediate mark by entering Michelin Guide Hotel List

Mon 30 Jun 2025 at 14:04
SM Prime Holdings to expand Philippines MICE offering in Cebu and Manila

SM Prime Holdings to expand Philippines MICE offering in Cebu and Manila

Sun 29 Jun 2025 at 17:45
Load More
Tags: Department of JusticefraudKazuo OkadaOkada ManilaPhilippinesTiger Resort
Share17Share
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

South Korea’s Paradise reports record drop at Paradise City but low hold hits group’s bottom line

Korea’s Paradise Co keeps rising through 2025 as casino revenues exceed US$60 million in June

by Newsdesk
Wed 2 Jul 2025 at 19:19

Leading Korean foreigner-only casino operator Paradise Co continued its recent surge in June as casino revenues across its properties reached KRW82.0 billion (US$60.3 million) – a slight 0.4% higher than in May but 41.0% higher than the same month last...

Hong Kong to launch “Southbound Travel for Guangdong Vehicles” scheme, no immediate plans for Macau

Hong Kong to launch “Southbound Travel for Guangdong Vehicles” scheme, no immediate plans for Macau

by Pierce Chan
Wed 2 Jul 2025 at 18:10

The Hong Kong government has unveiled plans to launch “Southbound Travel for Guangdong Vehicles” in November, allowing vehicles from Guangdong Province to enter Hong Kong. However, there are currently no definitive plans to implement a similar scheme allowing vehicles from...

APAC-facing gaming companies to see 70% aggregated EBITDA decline in 2020: Moody’s

The APAC iGaming Boom: Key trends and strategies in 2025

by Rose Power
Wed 2 Jul 2025 at 15:37

The APAC iGaming market is bursting with opportunity, and success in this rapidly growing region hinges on exceptional performance and a deep understanding of its unique landscape, enabling operators to tailor strategies that meet the region’s distinctive demands, securing a...

Team Spirit

IAG announces Light & Wonder, Angel and Aristocrat Gaming as sponsors of Macau After Dark at Vasco – Bar & Lounge on Monday 7 July

by Ben Blaschke
Wed 2 Jul 2025 at 15:33

Inside Asian Gaming is pleased to announce global gaming suppliers Light & Wonder as Platinum Sponsor and Angel and Aristocrat Gaming as Gold Sponsors of the upcoming edition of Macau After Dark, MAD 30, to be held on the evening of Monday 7 July...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English