Aruze looks to 'set the record straight' over Okada's arrest
Insight
HONG KONG Aruze Gaming
Kazuo Okada Japanese Gaming Tycoon
Mr. Okada’s lawyer in the Philippines, Atty. Rean Balisi of Blanco & Esguerra Law Office, denied that the gaming tycoon was arrested on alleged conspiracy to commit fraud against his own company, Okada Holdings Limited.
In August, Universal Entertainment Corp reported that its former Chairman, Kazuo Okada, was arrested in Hong Kong by the territory’s Independent Commission Against Corruption in relation to multiple corruption-related offences
Kazuo Okada, the Japanese billionaire, lost his board position at Universal last year after it accused him of misappropriating US$20m. Okada has previously denied this. He was also ousted as a director of Hong Kong investment company Okada Holdings, which controls Universal. Okada is on bail, said the company, which makes pin-ball style “pachinko” machines and operates a casino in the Philippines
Aruze Gaming has come out in defence of its owner Kazuo Okada following his arrest in Hong Kong.
Te company said: "Recently the press has reported that Mr. Kazuo Okada has been arrested by Hong Kong’s Independent Commission Against Corruption (ICAC). It is important to note that no charges have been filed against Mr. Okada. He and his family would like to make clear that they are the victims in this situation and Mr. Okada would like to take the opportunity to set the record straight regarding the false and malicious allegations made by Universal Entertainment Corporation (UEC) and its senior executives."
"Tese allegations are the latest attempt by UEC to harm Mr. Okada’s reputation. After UEC’s apparently failed attempt to have the Hong Kong Police take action against Mr. Okada, it is now relying on the same flawed UEC Special Investigation Committee Report to make spurious allegations to the ICAC. Te speed at which UEC issued a press release announcing Mr. Okada’s arrest reflects a pattern of repeated attempts to discredit Mr. Okada."
"Te ICAC was formed in the 1970’s in Hong Kong predominantly to combat public corruption, particularly among government employees. Among their powers is the ability to make an arrest without a
warrant, based on allegations presented to them. Mr. Okada voluntarily presented himself to the ICAC to answer their questions regarding the allegations raised against him. Te first time the ICAC heard Mr. Okada’s side of the story was when he voluntarily presented himself for questioning. We must take this opportunity to stress that no charges have been filed against Mr. Okada either by the ICAC or any other law enforcement agencies in any countries."
"It is important to note that the concept of arrest is very different in Hong Kong when compared to many other countries, such as the US, Japan, and the Philippines. In Hong Kong it is routine for the police to arrest individuals at early stages of their investigation to interview them. An arrest usually precedes a complete and thorough investigation and it certainly does not mean that the police believe that the arrested person is guilty, or that they have sufficient evidence against that person, or that he will necessarily be charged. No judge or court is involved in the decision to arrest, and no probable cause is required in the decision to arrest in Hong Kong.
“We expect that most people reading the sensational news about Mr. Okada do not have a proper understanding of the ICAC’s process in Hong Kong. It is believed that UEC’s intention is to destroy Mr. Okada and break up his family. Tey hope most people reading the latest reports will not understand the details and will simply gain a negative impression of Mr. Okada. We reiterate that no criminal charges have been filed. Te investigation process will provide the opportunity for the truth to come out. Mr. Okada is innocent, and he is an upstanding, honorable, and respectable person. Mr. Okada will regain control of the company he founded and repair the damage these acts by UEC have caused his family."
In a statement, Mr. Balisi said the case was dismissed as of May 2018. "Te case now reportedly with the ICAC is merely a rehash of what was already dismissed," the statement read.
According to Balisi, the case appears to be a retaliation by Okada’s detractors to the two criminal cases filed by Okada and his daughter, Hiromi Okada, in Hong Kong’s Commercial Crime Bureau.
Te lawyer said that on May 9, 2018, Mr. Okada filed a criminal case of theft, conspiracy, fraud, and money laundering against UEC President Jun Fujimoto, Makoto Takada, Atsunobu Ishida, and several other individuals.
Te case involves 43.48 per cent shares, which are worth approximately HK$6.18bn in OHL, an Okada Family company incorporated in Hong Kong, and a suspected case of “money laundering” involving US$43,497,203.80.
On March 23, 2018, Hiromi also filed a criminal case against her brother, Tomohiro Okada, Takada, Ishida and Fujimoto for fraud caused by the unlawful transfer and seizure of her 9.78 per cent shareholdings in OHL.
Balisi claimed there are no charges filed against Mr. Okada with the ICAC or any other law enforcement agencies in Hong Kong. Te lawyer also said that Mr. Okada and his daughter Hiromi have a controlling interest of Okada Holdings.
NEWSWIRE / INTERACTIVE / MARKET DATA P45
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