The Philippines Court of Appeals has reaffirmed its decision to dismiss fraud charges against Kazuo Okada and his partner Takahiro Usui.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- The Philippines Court of Appeals has reaffirmed its December decision<\/strong>\u00a0to dismiss fraud charges against\u00a0Kazuo Okada<\/a>\u00a0and his partner Takahiro Usui over the alleged misappropriation of more than US$3m from Tiger Resort, Leisure and Entertainment Inc (TRLEI), the operator of the Okada Manila casino resort. The court has also confirmed the quashing of arrest warrants against Okada and Usui.<\/p>\n\n\n\n In 2018, the Philippine Department of Justice filed three fraud charges <\/strong>against Okada\u00a0after he was awarded US$3.15m in salary and consulting fees as CEO of TRLEI \u201cthrough error or fraud\u201d<\/p>\n\n\n\n Tiger Resort, Leisure and Entertainment – controlled by Japan-listed Universal Entertainment Corp, which was also founded by Okada – alleged that he was illegally paid US$3m in company money without board approval, reportedly for his consulting work and salary.<\/p>\n\n\n\n In June 2017, Okada and COO Takahiro Usui were kicked off the board of TRLEI. Okada was also removed\u00a0from the board of parent company Universal Japan Entertainment<\/a>. However, in late Apri of this yearl, the Philippine Supreme Court issued an order restoring the composition of TRLEI’s board of directors to the level it was before Okada was ousted.\u00a0<\/p>\n\n\n\n Okada\u2019s team took over Okada Manila on May 31<\/a>. Since then a dispute over the control of TRLEI has started in the country\u2019s Supreme Court, between Okada and Universal Entertainment Corp. A few days ago,\u00a0Universal Entertainment Corp<\/strong>\u00a0announced that it will file\u00a0criminal charges against Kazuo Okada<\/a>\u00a0and his team in Hong Kong following their take over of Okada Manila.\u00a0<\/p>\n\n\n\n According to Universal Entertainment, Hong Kong-registered Tiger Resort Asia Limited (TRA)<\/strong> is the parent company that holds 99.9 per cent of the voting rights of Tiger Resort, Leisure and Entertainment (TRLEI)<\/strong>.<\/p>\n\n\n\n The company said: \u201cTRA is a wholly-owned subsidiary of the company and [\u2026] the directors of TRA are appointed by the company are recognized by the authorities under Hong Kong law and registered and publicly disclosed in Hong Kong.\u201d<\/p>\n\n\n\n Universal claims that Okada\u2019s behaviour amounts to a violation of Hong Kong law and said it intends to file charges relating to the falsification of official documents, fraud and embezzlement.<\/p>\n","protected":false},"excerpt":{"rendered":" The Philippines Court of Appeals has reaffirmed its decision to dismiss fraud charges against Kazuo Okada and his partner Takahiro Usui.<\/p>\n","protected":false},"author":176,"featured_media":9179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippines Court of Appeals has reaffirmed the dismissal of fraud charges against Kazuo Okada and Takahiro Usui, related to alleged misappropriation from Tiger Resort, Leisure and Entertainment Inc (TRLEI), operator of Okada Manila. This decision follows an ongoing corporate control dispute over TRLEI between Okada and Universal Entertainment Corp, with Universal now threatening new criminal charges in Hong Kong. The legal battles highlight complex governance and ownership challenges for a major integrated resort.","focusai_entities":"Kazuo Okada, Takahiro Usui, Philippines Court of Appeals, Tiger Resort, Leisure and Entertainment Inc (TRLEI), Okada Manila, Philippine Department of Justice, Universal Entertainment Corp, Universal Japan Entertainment, Philippine Supreme Court, Tiger Resort Asia Limited (TRA)","focusai_location":"Philippines, Hong Kong","focusai_target_profile":"ceo_executive (0.95), regulator (0.85), compliance_legal (0.95), operator_casino (0.8), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of Hong Kong Charges?","query":"What are the potential implications of the threatened Hong Kong criminal charges on Universal Entertainment Corp's stock performance and corporate governance standing?"},{"label":"Okada Manila Operational Stability?","query":"How might the ongoing control dispute and legal challenges impact Okada Manila's operational stability, B2B supplier contracts, and market perception in the Philippines?"}],"footnotes":""},"categories":[439,158,16333],"tags":[23288,8986],"class_list":["post-31789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-news","category-slider-home","category-south-east-asia-news","tag-kazuo-okada","tag-okada-manila"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=31789"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31789\/revisions"}],"predecessor-version":[{"id":31814,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31789\/revisions\/31814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9179"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=31789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}