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Casino tycoon Kazuo Okada said held in Hong Kong for alleged graft

AFP-JIJI

Controversial casino tycoon Kazuo Okada has been arrested in Hong Kong over alleged and unspecified “corruption-related” offenses, his former company in Tokyo said Monday.

Universal Entertainment Corp. said the Hong Kong Independent Commission Against Corruption (ICAC) had arrested Okada and released him on bail.

When contacted, the ICAC was not able to confirm the information immediately, citing a policy on not commenting on individual incidents.

“Upon receipt of a corruption complaint and should there be sufficient information to pursue, the ICAC will follow up on it in accordance with the law and established procedures,” the organization said in a statement.

Okada was sacked from running Universal Entertainment in 2017 after the firm accused him of a series of “fraudulent acts . . . for his own personal benefit.”

The firm and its former boss are now embroiled in lawsuits, and Universal Entertainment stressed in its statement that Okada “has no further connection with us whatsoever.”

Universal Entertainment pledged to assist ICAC with its investigation.

According to Forbes, Okada is the 16th richest person in Japan, with a net worth of $2.1 billion.