Japanese Casino Tycoon Kazuo Okada Arrested In Hong Kong

August 6, 2018

NewsStandOnline.Net (6-August-2018): Controversial Japanese casino tycoon Kazuo Okada has been arrested in Hong Kong over alleged and unspecified “corruption-related” offences, his former company in Tokyo said today.

Universal Entertainment Corporation said the Independent Commission Against Corruption had arrested Okada and released him on bail, NewsStandOnline.Net reported.

The ICAC did not confirm the information, citing a policy on not commenting on individual incidents.

“Upon receipt of a corruption complaint and should there be sufficient information to pursue, the ICAC will follow up on it in accordance with the law and established procedures,” it said.

Japanese Casino Tycoon Kazuo Okada Arrested In Hong Kong

Okada was sacked from running Universal Entertainment in 2017 after the firm accused him of a series of “fraudulent acts … for his own personal benefit”.

The firm and its former boss are now embroiled in lawsuits and Universal Entertainment stressed in its statement that Okada “has no further connection with us whatsoever”.

Universal Entertainment pledged to assist ICAC with its investigation.

According to Forbes, Okada is the 16th richest person in Japan, with a net worth that currently stands at US$2.1 billion.