Kazuo Okada Indicted by Philippines Department of Justice on ‘Grave Coercion’

Japanese billionaire Kazuo Okada, 80, has been charged in the Philippines on with several of his business concern associates for their roles inward the physical takeover of Okada Manila back in May.

Prosecutors with the Republic of the Philippines Department of Justice brought charges against Okada and numerous colleagues of his for “taking the law of nature into their hands.” It was May 31 when a mathematical group led past Okada stormed the multibillion-dollar structured casino resort inwards Manila’s Entertainment City and sham contain of the property’s operations after forcibly removing the former direction team.

Okada justified his actions with a Status Quo Ante Order (SQAO) issued past the Republic of the Philippines Supreme Court that instructed Tiger Resort, Leisure & Entertainment, Inc. (TRLEI) — the immediate parent troupe of Okada Manila — to allow Okada to retake his table seat.

But DOJ prosecutors say the SQAO did not warrant Okada retaking command of his namesake casino, which he built and opened a half-decade ago. In a 25-page bill of indictment that levies grievous coercion charges against Okada, Susan B. Anthony “Tonyboy” Cojuangco, Dindo Espeleta, and Florentino “Binky” Herrera III, among others, prosecutors say the defendants acted unlawfully.

Groups Claim Management

Kazuo Okada 1st made his riches by manufacturing pachinko machines through and through his Nipponese company Aruze Corporation, which is today Universal Entertainment Corporation. Okada became a billionaire by being an early investor inward Wynn Resorts.

Wynn Resorts cut off its human relationship with Okada in 2008 when rumors surfaced that the Japanese billionaire was bribing officials in the Republic of the Philippines to permit him to build a casino coordination compound inwards the Southeast Asia nation’s rising commercial message gambling casino market place inwards Manila.

Okada eventually gained a gaming licence inward the Philippines and spent $2.4 one thousand million to establish and opened Okada Manila. Okada, however, was ousted from TRLEI and Universal inwards 2017 on allegations that he was swindling money from the companies for his own personal use, claims Okada has long denied.

The billionaire contends that his adult children, who are today TRLEI and Universal’s largest shareholders, were responsible for(p) for his ousting. Okada has since sought to regain control of the firms he founded.

DOJ officials say Okada should hold waited for his petition to the Supreme Court asking for him to live granted physical memory access to the CEO and chairman’s office staff of TRLEI and Okada Manila to follow determined.

The Okada Group could non waitress for the Supreme Margaret Court to foremost ruler and publication a resolution thereon. Instead, they sharply went forward with their unlawful architectural plan to make hold in and ownership of Okada capital of the Philippines inward the guise of implementing the SQAO, which contains no specifications on what respondents canful only if get along by chastity thereof,” the indictment read.

Okada Manila was returned to TRLEI inward Sep and the Okada Group was removed. The Philippines DOJ instructed PAGCOR, the Philippine Amusement and Gaming Corporation, to assist TRLEI inwards resuming managerial control of the casino and resort.

Kidnapping Charges Dropped

While the DOJ says sober coercion charges are warranted against Okada and his associates, prosecutors declined TRLEI requests to take kidnapping and physical injury complaints. Prosecutors said “momentary restraint” of TRLEI executives did not warrant snatch or illegal detainment charges.

“Respondents tin only when follow held accountable for heavy coercion,” the DOJ concluded.

Okada remains temporarily voice of the TRLEI get on per the Supreme Court order. But the company says that could convert depending on how the intra-corporate difference of opinion plays out in the nation’s highest lawcourt in the coming months.