Japanese slots manufacturer and gaming Kazuo that is magnate Okada eliminated as chairman from Manila’s Okada Casino within the Philippines on Monday. It was the second place the 73-year-old billionaire has lost in as many 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 right here in 2004 with his bestie that is former Wynn) was ousted as chairman from his Okada Casino in the Philippines this week, as an investigation into an allegedly improper $17.3 million transfer continues in that country.
Two weeks prior, he ended up being relieved as chairman of Universal Entertainment Corp., the ongoing company he founded that settings both Philippine casinos.
‘As due to the recent actions at Universal Entertainment a special stockholders’ meeting of Tiger Resort was convened followed by the organizational conference associated with the board,’ stated the casino’s press release. ‘Mr. Kazuo Okada had been removed as chairman of the board.’
‘Serious Violation of Governance’
The fraud that is potential uncovered earlier this thirty days and Okada was asked for the explanation as to why $17.3 million was taken from Tiger Resorts Asia and put in a company managed by Okada and his son. When he could not satisfactorily justify the deal, Universal hired three externa Continue reading “Universal Entertainment’s Kazuo Okada Ousted from Philippines Casino for Alleged $17 Million Improper Transfer”