International edition
May 23, 2019

After he allegedly acquired “through mistake or fraud” $3.15 million

Philippine court issues arrest warrant against billionaire Kazuo Okada

Philippine court issues arrest warrant against billionaire Kazuo Okada
Okada had filed a motion for reconsideration at the DOJ, dismissing the accusations against him as baseless.
Philippines | 01/07/2019

A court has ordered the arrest of Japanese casino mogul Kazuo Okada over three counts of fraud.

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month after Philippines' Department of Justice recommended the filing of charges against him over three counts of fraud, Japanese pachinko billionaire Kazuo Okada was given an arrest order.

The DOJ has found cause to indict Okada for three counts of swindling after he acquired “through mistake or fraud” $3.15 million in salary and consultancy fees during his tenure as chief executive of Manila casino operator Tiger Resort, Reuters reports.

Okada had filed a motion for reconsideration at the DOJ, dismissing the accusations against him as baseless.

Judge Rolando How of the Paranaque City Regional Trial Court Branch 257 ordered the National Bureau of Investigation and the Philippine National Police to present Okada to court. The warrant of arrest was issued on Friday and made public on Sunday.

The bail was fixed at 348,000 Philippine pesos ($6,627) for all three charges.

Tiger Resort previously said the payments were facilitated by its former president and were not authorized by its board.

Reody Anthony Balisi, Okada’s legal counsel in the Philippines, did not reply to Reuters’ requests for comment on the arrest warrant.

Okada last year was ousted as chairman of Tiger Resort’s parent, the Japanese gaming group Universal Entertainment Corp (6425.T), after Universal’s board accused him of misappropriating $20 million. He denied wrongdoing.

It was unclear if Okada was in the Philippines when the court issued the arrest warrant.

He was arrested in Hong Kong in August in relation to multiple corruption-related charges and is currently on bail.

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