Philippine Justice Department Explains Kazuo Okada’s Indictment Intentions
The Philippines and the Justice Department reportedly announced in late May that they would file criminal charges against Kazuo Okada, a Japanese casino magnate who tried unsuccessfully to acquire the Okada Manila property.
According to a report by Inside Asian Gaming, the Asian country’s top law enforcement agency issued a resolution on May 31 informing the 80-year-old man of his intent to prosecute after a group of his allies stormed the 993-room Entertainment City building. Sources explained that the band, led by Antonio “Tony Boy” Cojuanco, reportedly tried to appropriate the venue on Okada’s behalf after the Philippine Supreme Court ruled that the entrepreneur was once again eligible to lead the board of directors of the operators of Tiger Resort Leisure and Entertainment Inc.
Key Properties:
Opened in December 2016 by Tiger Resort Leisure Entertainment Inc., the 108-acre Okada Manila property is home to a 284,283-square-foot casino that offers more than 3,000 slots and around 500 game tables. The $2.4 billion development fee also offers the world’s largest multi-colored dance fountain, along with a Cove Manila indoor beach club, a luxury spa, and a 90,510-square-foot shopping center.
Rebellious twist:
Okada was reportedly furious in 2017 when he was expelled from the board of directors of Manila-based Tiger Resort Leisure Entertainment Inc. for allegedly misappropriating about $3 million. But the Osaka-based businessman celebrated in May after the Philippine Supreme Court ruled against the operator’s Universal Entertainment Inc parent company ousting it and ordered its subsidiary to restructure its executive team before the layoffs.
Dangerous Deals:
The decision reportedly led former board members Kojuanko and Dindo Espeleta to join local lawyer Florentino “Vinkey” Herrera III in an attempt to take control of the 15-story Okada Manila facility. Organized raids of up to 50 people and Universal Entertainment Corporation reportedly claimed that around $2.2 million had disappeared from casino cages while employees were subjected to “cruel force and intimidation” along with illegal detention.
Illegal operation:
The transition was annulled last month by a cease-and-desist order from the Philippine Entertainment Game Company (PAGCor) regulator, and the Justice Department reportedly claimed the four nominated defendants had exceeded the intent of the May ruling. The resolution also reportedly declared Okada, Cojuanko, Espeleta and Herrera had been “considered to have the law in their hands” by implementing “an unlawful scheme to take control and own Okada Manila.”
Reportedly read a resolution from the Department of Justice…
“The organization illegally expanded the simple and general directives of the Philippine Supreme Court to maintain order in the business and operations of Okada Manila. Excessive exercise of a given authority is equivalent to using it as a means to achieve an end goal, if not a permissioned act, and respondents must act within the boundaries of the law and not rely on commissions for felonies.”
BY: 파워볼실시간