JAPAN’S casino magnate Kazuo Okada has filed qualified theft and estafa charges against officials of Tiger Resort Leisure Entertainment Inc., the operator of the $2-billion integrated resort and casino Okada Manila, for removing him from the company that he owned and founded.
In his complaint-affidavit sworn to the Philippine consul to Japan Andrea Leycano, Okada filed the case against his protege Jun Fujimoto, his son Tomohiro Okada his estranged wife Takako Okada, and Kenshi Asano, director of the magnate’s holding company that controls various casinos in the region, including Okada Manila.
Fujimoto is the president of Universal Entertainment Corp., Tomohiro was a trustee of Okada Holdings Inc. and Takako was a director of UEC.
Also included in the case were officers of Tiger Resort Leisure and Entertainment Inc., the operator of the casino, including Steven Wolstenholme, Antonio Cojuangco, Manuel Lazaro, Reynaldo David, Yoshinao Negishi, Kenji Sugiyama and Michelle Lazaro.
Asano is a de facto director of UEC and Tiger Resort HK while Wolstenholme, Cojuangco, Manuel Lazaro, David and Negishi were directors of Tiger Resort PHL, Sugiyama was chief security officer while Michelle Lazaro was its corporate secretary.
In his complaint filed before the Office of the City Prosecutor of Parañaque, through his local lawyers, Okada said the respondents, in their respective capacity as directors, officers, nominees and trusted shareholders of the company, conspired to seize his ownership rights and interest Tiger Resort PHL.
“I trusted each of the respondent Tiger PHL directors to exercise the rights and powers of a director of Tiger PHL in accordance with my instructions, and to protect my interest. Instead of showing me their loyalty, they betrayed me, and willfully participated… to facilitate my removal and replacement as chairman and director of Tiger PHL,” Okada said in his 37-page complaint.
He accused the respondents for converting and misappropriating his shares in the local company to remove him as chairman, director, CEO and registered shareholder of Tiger Resort PH.
Okada said his removal from his own company caused him great injury and prejudice.
“I am advised that the acts and omissions of respondents constitute the offenses of Qualified Theft and Estafa by Abuse of Confidence under Articles 310 and 315 [b] of the Revised Penal Code,” Okada said in his complaint.
Okada said he still owns 99 percent of Okada Holdings, which owns 68 percent in the listed firm UEC, the parent company of Tiger Resort.