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

Japan's Universal says former chairman Okada arrested in Hong Kong
FILE PHOTO: Universal Entertainment Corp's founder Kazuo Okada attends a news conference at the Tokyo District Court in Tokyo, Japan September 14, 2017. REUTERS/Issei Kato   -   Copyright  ISSEI KATO(Reuters)
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TOKYO (Reuters) – Japanese gaming group Universal Entertainment Corp <6425.T> 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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