Universal Entertainment Corp. (UEC), the Japanese gaming firm said it would ask the help Hong Kong’s anti corruption agency investigate and prosecute its former chair, gambling financier Kazuo Okada.
UEC told to the Tokyo Stock Exchange Inc. last August 6, “We will render our full support and assistance to the ICAC (Independent Commission Against Corruption) and other law enforcement authorities should the situation require.”
UEC disclosed that Okada was arrested last week by Hong Kong’s ICAC for “various corruption-related offenses.”
“Mr. Okada is currently released subject to bail conditions imposed on him by ICAC,” the company said. Okada was the chairman of the board of UEC until June 29, 2017.
Tiger Resort Leisure and Entertainment Inc. (TRLEI), which owns hotel-casino Okada Manila where Okada used to be chief executive officer, is a subsidiary of UEC.UEC is Japan’s leading maker of gaming products and video games.
According to reports, Okada was arrested with a certain Li Jian for alleged conspiracy to defraud the Hong Kong-registered family company, Okada Holdings, of $19.7 million.Li Jian, was reportedly a director of New Games Corp., allegedly received money from Okada.
