Wynn Resorts suit: How Pagcor officials were 'paid off'

ABS-CBN News

Posted at Feb 23 2012 07:54 PM | Updated as of Feb 24 2012 08:57 AM

MANILA, Philippines -- This is the lawsuit filed on Tuesday by Wynn Resorts Limited against Japanese gambling tycoon Kazuo Okada, accusing him of paying off Philippine regulators and cheating his powerful Las Vegas partner. Wynn Resorts said Okada spent more than $110,000 to curry favor with two Philippines officials in apparent violation of the US Foreign Corrupt Practices Act, jeopardizing Wynn Resorts' own reputation in the process. It named former Pagcor chairman Efraim Genuino and current Chairman Cristino Naguiat, and their families, as the recipients of the payoffs, which dated to 2008.

Wynn Resorts suit: How Pagcor officials were 'paid off' 1