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Universal Entertainment’s Kazuo Okada Ousted from Philippines Casino for Alleged $17 Million Improper Transfer

Universal Entertainment’s Kazuo Okada Ousted from Philippines Casino for Alleged $17 Million Improper Transfer

Japanese slots maker and gaming Kazuo that is magnate Okada eliminated as chairman from Manila’s Okada Casino into the Philippines on Monday. It was the second place the 73-year-old billionaire has lost in as numerous weeks, after allegations that he improperly transferred $17.3 million from chichi casino Tiger Resorts Asia in March of 2015 to Okada Holdings.

Kazuo Okada (left, seen here in 2004 with their former bestie, Steve Wynn) was ousted as chairman from his Okada Casino in the Philippines this week, as an research into an allegedly improper $17.3 million transfer continues in that country.

Two weeks prior, he was relieved as chairman of Universal Entertainment Corp., the ongoing company he founded that controls both Philippine gambling enterprises.

‘As due to the recent actions at Universal Entertainment a special stockholders’ meeting of Tiger Resort was convened followed by an meeting that is organizational of board,’ stated the casino’s press launch. ‘Mr. Kazuo Okada was removed as chairman of the board.’

‘Serious Breach of Governance’

The fraud that is potential uncovered earlier this month and Okada had been asked for the explanation as to why $17.3 million was taken from Tiger Resorts Asia and put in a company controlled by Okada and his son. When he could not satisfactorily justify the deal, Universal hired three external experts to work alongside an i Devamını oku