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.
Kazuo demands payment of Okada’s P2-B loan as tug of war with Tonyboy Cojuangco gets messier
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.
SC steps in Okada Manila boardroom war as Kazuo-Tonyboy group reportedly pays P2B to Okada Manila contractor amid freeze on bank accounts
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.
Business as usual: Kazuo Okada’s group claims ‘all is well’ despite freezing of bank assets
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.
Casino-hotel, employees in peril: BDO, UBP, Asia United freeze Kazuo-Tonyboy group’s access to Okada Manila bank accounts
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.
Tiger Resorts Asia warns against dealing with Kazuo Okada, Tonyboy Cojuangco after hotel heist
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.