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Manila Bulletin devider Business devider Okada to exhaust legal remedies vs arrest warrant

Okada to exhaust legal remedies vs arrest warrant

Published May 20, 2019 12:00 am
By James A. Loyola Casino mogul Kazuo Okada and Tiger Resort Leisure and Entertainment Inc. (TRLEI) Chief Operating Officer Takahiro Usui vowed to exhaust all legal remedies after the Paranaque City Regional Trial Court upheld the issuance of warrants of arrests against them. Earlier, Okada and Usui filed a Motion to Quash or Recall Warrants of Arrest before the Paranaque RTC in connection with the three counts of estafa filed by TRLEI against them. However, the RTC denied their motion after Okada and Usui submitted evidence including documents aimed to show that TRLEI duly authorized the disbursements of around $3 million to Okada as compensation. Okada and Usui asserted that it was impossible for them to commit estafa, especially for Okada who was in full control of the company when the alleged payment happened on April 30, May 9 and 30, 2017. Also, Okada and Usui maintained that the Court and TRLEI recognized Okada’s valuable contributions and services as Chairman and CEO, and his salaries and fees were even processed, approved and signed by the proper officers of TRLEI, the operator of Okada Manila. Okada said he firmly believes he had the sole right to authorize or ratify matters pertaining to TRLEI, including the compensation of the corporation’s directors which was determined by the corporation’s stockholders according to company law. He argued that he had the power to authorize the payment of compensation to directors. He said that power was given to him by the Board of Directors of UEC as Okada is responsible for the investment of more than US$2 billion in Okada Manila, which bears his name. “It is therefore absurd for him to defraud, or conspire to defraud, his own company for a measly US$3 million,” Okada’s counsel said. Okada and Usui said they will vigorously defend themselves against these baseless accusations and shall continue to avail themselves of legal remedies by first filing a Motion for Reconsideration, and if it is denied, a Petition for Certiorari with the Court of Appeals of the Philippines.
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