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Hong Kong – Former Universal boss Kazuo Okada arrested in Hong Kong

By - 6 August 2018

Japanese gaming company Universal Entertainment has said that its former Chairman Kazuo Okada and his associate Li Jian, have been arrested in Hong Kong by the Independent Commission Against Corruption in relation to the claims that he defrauded Okada Holdings of $19.7m.

He is already under investigation from the Philippines Department of Justice for $10m fraud charges filed against him by Tiger Resort Asia. Reports out of Hong Kong say that Mr. Okada has been released on bail.

Mr Okada said: “I have not been charged with any crime. ICAC’s investigation was from one of many, false allegations based on the groundless Universal Entertainment Corp special investigation report.”

Tiger Resort Asia has said that Mr. Okada stole money from the company as loans to Li Jian’s Goldluck Tech between February and March 2015, taking the money for himself and paying Li a fee for his part in the plot.

Okada resigned from his post as Chairman of Universal Entertainment in June last year following the accusations. Universal wants him charged with three separate fraudulent acts.

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