Japanese gaming tycoon Kazuo Okada has vowed to reclaim the company unlawfully taken from him and expressed optimism that justice will prevail in the end.
Amid what his lawyers described as baseless accusations and lies being thrown at him, Okada revealed that he also reached out to his son for reconciliation for the sake of the family and company.
“I would say my control was fraudulently taken away from me and I am now doing everything in my power to take it back,” Okada said in a statement issued by his lawyers on Thursday.
“I have a belief that justice wins in the end. I believe in justice, and this belief drives me to continue,” he added.
For the first time, Okada spoke about his illegal removal as director of Okada Holdings Ltd. due to alleged illegal maneuverings of some people upon whom he bestowed his trust and confidence. Okada said these people later betrayed his trust and manipulated his children to benefit from their grand scheme.
Okada Holdings Ltd. is the holding company for all Universal Entertainment Corp. shares owned by members of Okada’s family. Okada Holdings Ltd. controls 69 percent of UEC, which through Tiger Resorts Asia Ltd., owns Tiger Resort Leisure and Entertainment Inc., the operator of Okada Manila.
The statement said that Okada is currently in Hong Kong focusing on his legal battle to wrest control of the company that he founded.
The gaming tycoon who has confessed his love for the Philippines also called on his son, Tomohiro, to serve the interest of his family, rather than unscrupulous businessmen who have nothing to lose but everything to gain from the situation.
“Tomohiro is also a victim, like us,” the father said.
Okada said Tomohiro should realize that if this controversy continues, the company’s value will keep going down and the family will suffer the most from the loss as major shareholders.
“If there is no good news for the public, the value of the company will keep going down,” said Okada, who admitted that UEC is currently facing deficits.
Earlier this year, cases of perjury and estafa against Okada were dismissed by the City Prosecutor’s Offices of Makati and Parañaque for lack of probable cause.
But these cases are now pending before the Department of Justice after the operator of Okada Manila filed a motion for reconsideration seeking a reversal of the estafa case against the Japanese gaming tycoon.
The DOJ took over the Okada estafa cases after a controversy arising from the leakage of the resolution promulgated by Paranaque City Prosecutor’s Office that dismissed the estafa cases ended up in the social media account of Okada’s associate even before the ruling was officially released to the parties.”‹
