{"id":57590,"date":"2017-08-30T17:15:12","date_gmt":"2017-08-31T00:15:12","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=57590"},"modified":"2017-08-30T19:00:33","modified_gmt":"2017-08-31T02:00:33","slug":"universal-entertainment-publish-findings-kazuo-okada-fraud-investigation","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/","title":{"rendered":"Universal to Publish Findings of Kazuo Okada \u201cFraud\u201d Investigation"},"content":{"rendered":"

Universal Entertainment announced this week the completion of a third-party special investigation into the \u201cpotentially fraudulent acts\u201d it has alleged against its chairman, the Japanese gaming mogul Kazuo Okada.<\/p>\n

\"Kazuo
Universal Entertainment has said an external investigation into its founder and former chairman, Kazuo Okada, for alleged \u201cfraudulent\u201d transactions is complete. Okada has dismissed the allegations as \u201cnonsense.\u201d<\/figcaption><\/figure>\n

On June 29, the Universal Entertainment board ousted Okada<\/a>, who founded the pachinko and casino equipment giant in 1969, and announced it was investigating him for misuse of company funds.<\/p>\n

Universal\u2019s president Jun Fujimoto said the company had uncovered a possible fraud, which related to an \u201cirregular\u201d set of transactions, totalling $20 million and dating from 2015. The purpose of the transactions, said Fujimoto, was to \u201cachieve personal benefit for Chairman Okada.”<\/p>\n

\u201cRecently it has been found out there is a suspicion that certain directors illegally outflowed approximately 2 billion yen without going through proper internal decision making process [sic],\u201d said Fujimoto.<\/strong><\/p><\/blockquote>\n

\u201cIn response to this, the Company hereby announces that, having judged that a thorough investigation from a professional and objective viewpoint is necessary, it decided to establish a special investigation committee consisting of external experts.\u201d<\/p>\n

\u201cBoardroom Coup\u201d<\/strong><\/h2>\n

In an interview with Reuters on July 2, Okada, 74, dismissed the allegations as \u201cnonsense\u201d and claimed he had been the victim of a boardroom coups on several fronts. The \u201cirregular transactions\u201d were director\u2019s loans, he explained, and were not scheduled to be repaid until November.<\/p>\n

Furthermore, the funds had been used for legitimate business purposes, to increase junket operations for the new Okada Manila resort, Okada said.<\/strong><\/p><\/blockquote>\n

The family patriarch is suing his son, Tomohiro; daughter, Hiromi; and wife, Takako, in an effort to wrest back control of Universal\u2019s parent, Okada Holdings. Okada now owns just 46.4 percent of the parent, having ceded the controlling stake of the company to his family, which was enough for them to oust him from the board in May.<\/p>\n

No Impact on Okada Manila<\/strong><\/h2>\n

Universal Entertainment said in an official statement this week it was sitting on the findings of the investigation while it decides whether to redact parts that might compromise \u201cthe business secrets of the company and its business partners.\u201d However, the report would be published shortly, it said.<\/p>\n

Philippine casino regulator Pagcor has said that the investigation into Okada would not impact the operations of the Okada Manila<\/a>. The resort opened in December last year but is still incomplete and is not expected to commence gaming operations at full capacity until early 2018.<\/p>\n

Okada has also been removed from the board of Tiger Resort, Leisure and Entertainment Inc, which is the Okada Manila operator and a subsidiary of Universal Entertainment.<\/p>\n","protected":false},"excerpt":{"rendered":"

Universal Entertainment announced this week the completion of a third-party special investigation into the \u201cpotentially fraudulent acts\u201d it has alleged against its chairman, the Japanese gaming mogul Kazuo Okada. On June 29, the Universal Entertainment board ousted Okada, who founded the pachinko and casino equipment giant in 1969, and announced it was investigating him for […]<\/p>\n","protected":false},"author":42,"featured_media":57591,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,60],"tags":[],"acf":[],"yoast_head":"\nUniversal Entertainment to Publish Findings of Kazuo Okada \u201cFraud\u201d Investigation<\/title>\n<meta name=\"description\" content=\"Japanese gaming giant Universal Entertainment has received to findings of a special investigation into its founder Kazuo Okada\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Universal Entertainment to Publish Findings of Kazuo Okada \u201cFraud\u201d Investigation\" \/>\n<meta property=\"og:description\" content=\"Japanese gaming giant Universal Entertainment has received to findings of a special investigation into its founder Kazuo Okada\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-31T00:15:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-08-31T02:00:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Kazuo-Okada.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"625\" \/>\n\t<meta property=\"og:image:height\" content=\"395\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/\",\"url\":\"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/\",\"name\":\"Universal Entertainment to Publish Findings of Kazuo Okada \u201cFraud\u201d Investigation\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Kazuo-Okada.jpg\",\"datePublished\":\"2017-08-31T00:15:12+00:00\",\"dateModified\":\"2017-08-31T02:00:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Japanese gaming giant Universal Entertainment has received to findings of a special investigation into its founder Kazuo Okada\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Kazuo-Okada.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Kazuo-Okada.jpg\",\"width\":625,\"height\":395,\"caption\":\"Universal Entertainment has said an external investigation into its founder and former chairman, Kazuo Okada, for alleged \u201cfraudulent\u201d transactions is complete. Okada has dismissed the allegations as \u201cnonsense.\u201d\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commercial Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Universal to Publish Findings of Kazuo Okada \u201cFraud\u201d Investigation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\",\"name\":\"Casino.org Staff Writer\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"caption\":\"Casino.org Staff Writer\"},\"url\":\"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Universal Entertainment to Publish Findings of Kazuo Okada \u201cFraud\u201d Investigation","description":"Japanese gaming giant Universal Entertainment has received to findings of a special investigation into its founder Kazuo Okada","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Universal Entertainment to Publish Findings of Kazuo Okada \u201cFraud\u201d Investigation","og_description":"Japanese gaming giant Universal Entertainment has received to findings of a special investigation into its founder Kazuo Okada","og_url":"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2017-08-31T00:15:12+00:00","article_modified_time":"2017-08-31T02:00:33+00:00","og_image":[{"width":625,"height":395,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Kazuo-Okada.jpg","type":"image\/jpeg"}],"author":"Casino.org Staff Writer","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Casino.org Staff Writer","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/","url":"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/","name":"Universal Entertainment to Publish Findings of Kazuo Okada \u201cFraud\u201d Investigation","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Kazuo-Okada.jpg","datePublished":"2017-08-31T00:15:12+00:00","dateModified":"2017-08-31T02:00:33+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77"},"description":"Japanese gaming giant Universal Entertainment has received to findings of a special investigation into its founder Kazuo Okada","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Kazuo-Okada.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Kazuo-Okada.jpg","width":625,"height":395,"caption":"Universal Entertainment has said an external investigation into its founder and former chairman, Kazuo Okada, for alleged \u201cfraudulent\u201d transactions is complete. Okada has dismissed the allegations as \u201cnonsense.\u201d"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/universal-entertainment-publish-findings-kazuo-okada-fraud-investigation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Commercial Gaming","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/"},{"@type":"ListItem","position":3,"name":"Universal to Publish Findings of Kazuo Okada \u201cFraud\u201d Investigation"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77","name":"Casino.org Staff Writer","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","caption":"Casino.org Staff Writer"},"url":"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/57590"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=57590"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/57590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/57591"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=57590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=57590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=57590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}