Fraud and perjury charges against Okada dropped in Philippines

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Last week in the Philippines, fraud and perjury complaints filed in January against Japanese entrepreneur, Kazuo Okada (pictured), by the promoter of the giant Okada Manila integrated casino resort have reportedly been dropped by prosecutors in Parañaque City and Makati in Metro Manila, due to a lack of evidence.

GGRAsia reports that the Universal Entertainment Corporation-controlled Tiger Resort, Leisure and Entertainment Inc. made a complaint of two counts of fraud against billionaire, Okada, to the Parañaque City prosecutor while a perjury allegation was made against the latter and an associate to the prosecutor’s office in Makati City.

Citing local media reports, the news outlet communicated that due to lack of evidence, Makati prosecutors cleared the 76-year-old gaming magnate last week and in Parañaque City, prosecutors purportedly also dismissed the Japanese conglomerate’s two counts of fraud complaint; one of the fraud counts regarding the alleged illegal transfer of company funds, the other regarding the award of a supply contract to Aruze Philippines Manufacturing Inc.

In June last year, Okada was removed as chairman of Tiger Resort, Leisure and Entertainment Inc. after allegations that he was involved in the transfer of just over $17.93 million from the Hong Kong-based subordinate to a “third party” without first going through the “proper internal decision-making process.” Additional allegations involving two instances of “illegal activities” that involved the movement of approximately $2.22 million were also made.

Okada has reportedly denied the claims.

The dropping of the perjury and fraud changes by Parañaque City prosecutors has been controversial, as the action was reportedly aired on social media prior to being published officially.

GGRAsia reports that on Wednesday, Tiger Resort, Leisure and Entertainment Inc. filed a motion accusing Parañaque City Prosecutor, Amerhassan Paudac, of “bias and gross partiality,” and requested that he recuse himself from the case.

In its latest complaint to the court, Tiger Resort reportedly said: “Resolutions purportedly disposing the captioned cases in favour of respondent Okada have apparently been leaked… as shown by the unlawful publication thereof in the Facebook and Instagram accounts of his [Okada’s] close companion, Chloe Kim although said resolutions have not been officially released.”

The casino firm added: “There is factual and legal basis to believe that City Prosecutor Paudac is biased and partial in favor of respondent Okada to the grave prejudice of complainant Tiger Resort,” according to GGRAsia.

Fraud and perjury charges against Okada dropped in Philippines was last modified: May 29th, 2018 by K Morrison