August 6, 2018 / 6:29 AM / 10 months ago

Japan's Universal says former chairman Okada arrested in Hong Kong

TOKYO, Aug 6 (Reuters) - Japanese gaming group Universal Entertainment Corp said on Monday its former chairman Kazuo Okada was arrested in Hong Kong in relation to multiple corruption-related offences.

Okada is currently released on bail, said the company, which makes Japanese-style slot machines and operates a casino in the Philippines.

The Japanese billionaire was ousted from Universal’s board last year, with the board accusing him of misappropriating $20 million in funds. (Reporting by Ritsuko Ando Editing by Chang-Ran Kim)

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