Japanese billionaire Kazuo Okada is facing a string of cases in Japan, Hong Kong and the Philippines involving serious charges including falsifying documents, swindling, and the most recent of which, kidnapping and illegal detention following the dramatic takeover of the integrated casino resort Okada Manila on May 31.
According to records, Okada has 29 pending cases in six countries — 12 in Japan, six in Hong Kong, seven in the Philippines, two in the US, and one each in South Korea and Macau.
Okada, who has long been ousted from the board of Okada Manila operator Tiger Resort Leisure & Entertainment Inc. (TRLEI), regained control of the $2.4 billion integrated resort in Paranaque City with the help of his business partner Antonio “Tonyboy” Cojuangco as well as private security guards and local police.
TRLEI claimed that Okada’s camp forcibly took physical possession of Okada Manila and illegally deployed its own board of directors on the pretext of a status quo ante order from the Supreme Court. Kidnapping, serious illegal detention, grave coercion and unjust vexation complaints were filed against Okada, Cojuangco and five other company board members before the Department of Justice.
Okada’s group, however, denied using brute force and intimidation in taking over the property. It said all charges leveled against Okada were “pure fabrication and have no legal basis whatsoever.”
The SC order, which was issued in April , reinstated Okada who had been ousted in 2017 as CEO of TRLEI.
In Japan, Okada recently lost an appeal to the Tokyo High Court, which sought to overturn the ruling of a district court that found him guilty of breaching his duty as manager of Universal Entertainment Inc.
The Japanese court ruled that the Japanese gaming mogul made an improper loan of HKD136 million to a company owned by a certain Li Jian, a close associate of Okada.
The honorable court also found that Okada had allegedly personally benefited HKD16 million from the transaction.