Hong Kong’s Independent Commission Against Corruption unconditionally released casino magnate Kazuo Okada, the camp of the Japanese businessman said Tuesday.
Cheng Huan, Okada’s legal counsel in Hong Kong, said in a statement Okada went to ICAC office on Feb. 22 upon an invitation and was given his unconditional release on the same day. The office returned the bail that Okada posted, the lawyer said.
Cheng said Okada would no longer be required by ICAC to report to the anti-corruption agency.
Huan said that with his release, Okada would focus on his legal battle to regain control of his company Okada Holdings Inc.
As 99-percent owner of OHL, Okada earlier maintained that he had 68-percent ownership of Universal Entertainment Corp., the parent company of Tiger Resort Leisure and Entertainment Inc. which is the operator of hotel and casino complex Okada Manila.
Okada and his daughter Hiromi earlier filed civil and criminal proceedings in Hong Kong to regain control of OHL. They also sought to secure criminal convictions for fraud and financial crimes against those responsible for the casino magnate’s illegal ouster as director and/or chairman of Okada Holdings, UEC, Tiger Resort and OHL in 2017.
Among those charged by the Okadas were Kazuo Okada’s son Tomohiro Okada and Jun Fujimoto, the current president and chief executive of UEC.
The Japanese gaming tycoon was reportedly arrested by Hong Kong’s anti-corruption agency over an alleged conspiracy to commit fraud against his own company in August 2018. This was denied by Okada’s camp.
Okada Manila is a large casino resort complex in Parañaque City.
UEC, through unit TRLEI, disclosed plans to list its shares in the Philippine Stock Exchange after acquiring Asiabest Group International Inc., a dormant listed company. Jenniffer B. Austria