Okada, facing arrest, says accusers destroying his reputation


Posted at Jan 08 2019 12:45 PM

MANILA - Japanese gaming tycoon Kazuo Okada, who is facing arrest over a $3.1-million fraud case, said Tuesday the charge was meant to destroy his reputation.

Okada is accused of receiving millions of dollars in compensation without authorization from the board of Tiger Resort, Leisure and Entertainment, from which he was ousted in 2017.

Tiger operates Okada Manila, a billion-dollar casino resort that bears that Japanese tycoon's name.

"These cases are only intended to destroy my reputation in the business community and discredit all the hard work I have put into the establishment, rise and success of Okada Manila, which is now operated by my accusers," he said in a statement.

Okada said he could not have defrauded his own company for "measly amount of salaries." He said disbursements made under his watch underwent proper procedures.

Aside from Okada, Takahiro Usui was also ordered arrested by the Parañaque City Regional Trial Court Branch 257 for allegedly facilitating the payment to the Japanes businessman.

Okada was removed as CEO of Tiger Resorts in June 2017 due to "serious violation of governance" over a $17.3-million loan. He filed a suit in September 2018 saying his ouster was illegal.