Philippines orders arrest of Kazuo Okada on corruption charges

The Philippines Department of Justice has ordered the arrest of Kazuo Okada, the disgraced former chairman of Universal Entertainment.

The court has charged Okada with “swindling” US $3.2 million in fraudulent salary earnings and consultancy fees during his time as CEO of Tiger Resort, a major casino operator in Manila.

The Japanese gaming tycoon has repeatedly denied involvement in any dodgy dealings since he was axed last year by Universal – Tiger Resort’s parent company – on suspicion of embezzling more than $20m.

ALSO READ: COURT OF APPEALS GIVES GREEN LIGHT FOR NEW PHILIPPINES CASINO

Okada went as far as to file a wrongful termination lawsuit against Tiger Resort and demand he be reinstated to all his former titles.

That came shortly after he was apprehended in Hong Kong last August on a litany of corporate corruption charges.

The pachinko magnate has played true to form on these latest allegations, denying everything and submitting a motion for reconsideration.

The Philippines DOJ has set Okada’s bail at 348,000 pesos (US $6,627).