Japanese casino tycoon arrested in Hong Kong
Japan Today -- Aug 07
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.

News source: Japan Today
Mar 19
A team of investigators into how a Japanese real-estate leasing company built substandard apartment buildings has found building materials were improperly substituted on the orders of the company's founder. (NHK)
Mar 19
As part of an effort to streamline markets and attract more investors, the Tokyo Stock Exchange may demote about a third of its largest listed companies and cut down the bourses it operates to three from four, according to media reports. (Japan Times)
Mar 16
The Tokyo District Court has sentenced the former head of a digital currency exchange to 30 months in prison suspended for four years for altering data in a Bitcoin account. (NHK)
Mar 16
A 7-Eleven convenience franchisee who shortened the store's business hours to 6 a.m. - 11 p.m. on Feb 1 will continue to operate those hours after the company told him it would not cancel his contract or issue a penalty. (Japan Today)
Mar 14
The Supreme Court has finalized high court rulings ordering owners of television-capable cellphones to pay a subscription fee to public broadcaster NHK, Kyodo News learned Wednesday. (Japan Times)
Mar 13
Three former executives of Tokyo Electric Power Company have pleaded not guilty to professional negligence in connection with the 2011 nuclear crisis at the Fukushima Daiichi power plant. (NHK)
Mar 13
The former CEO of Olympus, who blew the whistle in 2011 on a massive accounting scandal at the medical equipment maker, has won a London court battle over alleged wrongdoing linked to his £64 million (¥9.4 billion) pension. (Japan Times)
Mar 12
The Tokyo District Court on Monday rejected a request by former Nissan Motor Chairman Carlos Ghosn to attend Nissan's board meeting on Tuesday. He was released on bail last week and was seeking permission to take part in the meeting. (NHK)
Mar 12
The only dedicated coal-carrying railroad still running in Japan will cease operations at the end of this month, ending its 94-year mission to support the country’s industrial development. (Japan Times)
Mar 09
Heavy machinery maker IHI Corp. said Friday it has found 211 cases in which airplane engines were improperly inspected over the past two years, including by uncertified workers. (Japan Times)