Society | Aug 07

Japanese casino tycoon arrested in Hong Kong

Aug 07 (Japan Today) - Controversial Japanese casino tycoon Kazuo Okada has been arrested in Hong Kong over alleged and unspecified "corruption-related" offences, his former company in Tokyo said on Monday.

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

Contacted by AFP, 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 organisation 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."

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

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