Japanese gambling tycoon may be charged over Manila land deals
Japanese billionaire may be charged with creating dummy companies to buy land
Investigators recommended yesterday that charges be filed against Japanese gambling tycoon Kazuo Okada for allegedly creating dummy firms to buy land for a Manila casino project.
They said similar charges should be filed against 25 other people who helped the Japanese billionaire set up at least three firms to establish the billion-dollar casino at Manila's bayfront Entertainment City.
There was clear evidence that the firms established by Okada "were a front for Universal Entertainment, meant to circumvent or evade laws of nationalisation of certain rights, franchises and privileges", Justice Secretary Leila de Lima said.
Okada, who amassed a fortune selling machines for Japanese pachinko parlours, controls Universal Entertainment, while under the Philippine constitution, only citizens or companies that are 60 per cent owned by Filipinos can own land.
"They are liable for violating the Anti-Dummy Law," de Lima said.
She said the Justice Department's National Bureau of Investigation was reproducing "voluminous documentary evidence" to be turned over to state prosecutors, who would then determine whether the case should proceed in court.
Nobuyuki Horiuchi, a spokesman for Universal Entertainment, said they did not believe they had broken the law.