The far side of the world, Asia, a beautiful place for all things scenic. A place thousands upon thousands visit every year to enjoy a vast array of sights, sounds and experiences.
But again, this news article is focussing on the underbelly of Asian developments and this time it’s the same as the last times with Gambling arrests and illegal activities.
Plenty of our recent articles have features about the raids, arrests and illicit gambling activities all over the continent of Asia, and this article is all about Kazuo Okada.
Okada is the former MD and Chairman of Universal Entertainment – a renowned Japanese slot machine manufacturer who have bene in the news numerous times in the last 5 years – regrettably the news making stories have usually been to do with the illegal activities and investigations of their former owner and his associates, rather than their excelling business or thriving financial gains.
Kazuo Okada has been arrested and since found guilty of varying fraudulent acts taking place between 2013-2015 whilst involved with Universal, with a brief timeline below;
- Universal Entertainment subsidiary (Universal Entertainment Korea Co Ltd) misused to create property interest in Okada’s own holding company
- Subsidiary misused to generate interest in $80 USD land financing deal
- $16M USD withdrawn from a Tiger Resort Asia bank using bearer cheque by Okada which was issued by himself
- Okada instructs manager of Tiger Resort to check $2m USD into accounts for personal use
Okada has been found guilty of these fraudulent acts and to be in breach of duties and responsibilities of a company director and chairman