Kazuo Okada detained but not charged

Kazuo Okada's lawyer denies that the casino tycoon was detained in Hong Kong. Credits: Wall Street Journal

The casino tycoon was detained in Hong Kong but his lawyer said that he wasn’t charged with any crime.

Hong Kong.- Japanese gaming company Universal Entertainment revealed on Monday that its former chairman Kazuo Okada had been arrested by Hong Kong’s corruption watchdog as part of a corruption-related legal case.

The company said in a stock exchange filing that the Hong Kong’s Independent Commission Against Corruption (ICAC) arrested the casino tycoon in relation to various corruption-related offences. Okada left the company in June after he was accused of misappropriating approximately US$20 million in company funds and fraudulent acts carried out for personal benefit.

However, a layer of Okada said that the claims by Universal Ent that he was arrested were false, and said that the case was dismissed in May. “The case now reportedly with the ICAC is merely a rehash of what was already dismissed,” said the statement by Atty. Rean Balisi of Blanco & Esguerra Law Office.

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