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Tag Archives: Kazuo Okada

Japan – Tokyo High Court rejects Okada appeal over Universal fraud

Universal Entertainment Founder and former owner Kazuo Okada has had his appeal against alleged fraud he committed whilst in the hot seat of his former company kicked out by the Tokyo High Court. The High Court lent its support to a decision made by the Tokyo District Court earlier this year demanding he pay damages…

Japan – Kazuo Okada ordered to pay damages to Universal Entertainment

Former Universal Entertainment owner Kazuo Okada will have to pay his former company JPY 21.3m (US$193,000) in damages following a ruling by the Tokyo District Court. Mr. Okada, who was ousted as Universal Chairman in June 2017 pending investigation, will also have to pay all litigation costs for over the two year period that the…

Japan – Special Investigation Committee finds Universal Chairman guilty of fraud

Universal Entertainment’s former Chairman Kazuo Okada has been found guilty of three acts of fraud by a Special Investigation Committee. The three-month investigation concluded that Okada ‘led and conducted the fraudulent acts.’ It said: “As a result of the investigation of the Special Investigation Committee, it has become clear that Mr. Okada led and conducted…

Japan – Universal Entertainment takes action against its Founder Kazuo Okada

Universal Entertainment, the Philippine casino operator and Tokyo-based slots and pachinko manufacturer, has suspended its own CEO and Founder Kazuo Okada, pending an investigation in suspected fraudulent activity. The company has launched ‘a special investigation committee consisting of external experts’ to investigate a suspicious $17.3m transaction that Okada made to a company he controls. Universal…

The Philippines – Universal says investigations have concluded without charge

Universal Entertainment has confirmed that investigations into its Chairman Kazuo Okada and its financial dealings in the Philippines and in Japan ‘have concluded’ adding that investigations in the United States would soon be concluded too due to a ‘lack of evidence.’ Some of Universal’s executives were being investigated for alleged illegal payments to smooth the…

The Philippines – Universal cleared of making illegal payments

Universal Entertainment Corp has been cleared of making any alleged illegal payments to Philippines regulator PAGCOR to smooth the development of its US$2bn Manila Bay Resorts. Universal, led by Kazuo Okada, blamed news service Reuters for the investigation for what it termed ‘partial and inaccurate reports’ and said it would be taking legal action although…

The Philippines – Universal fights back over DOJ charge claims

Despite a Department of Justice (DOJ) and National Bureau of Investigation recommendation that criminal charges be filed against it, Universal Entertainment, owned by Japanese billionaire Kazuo Okado, has said it will still pursue its US$2bn investment in Philippine Amusement Gaming Corp.’s (Pagcor) Entertainment City. The statement came after a fact-finding panel of the DOJ suggested…

Philippines- New twist in Okada/Wynn case could halt Manila casino

With US authorities investigating bribery charges brought against Universal Entertainment’s Kazuo Okada by Steve Wynn, Philippine officials have confirmed the former’s licence to operate in Manila Bay could be cancelled. The investigation, part of the long-running Wynn/Okada court saga, will determine whether a US$5m payment by affiliates of Universal to Rodolfo Soriano, then a consultant…

Japan- Okada sues Wynn for $140m over ‘fraud, deception, theft and betrayal’

The fall out between Kazuo Okada and Steve Wynn has reached a new level with the former suing the latter for around US$140m over claims of ‘fraud, deception, theft and betrayal’ concerning the withdrawal of Mr. Okada’s shareholding in Wynn Resorts. Universal Entertainment and its chairman, Mr. Okada have now filed a lawsuit before the Tokyo District Court…