Kazuo Okada to continue fight against estafa allegations

Kazuo Okada has vowed to make use of all legal options to fight an arrest warrant laid against himself and the former president of Okada Manila, Takahiro Usui, in relation to allegations of estafa, local media reports.

Last week, a Parañaque City trial court affirmed the warrant of arrest issued earlier this year against Kazuo Okada and his associate, Takahiro Usui, in connection with charges that he embezzled more than $3 million from his own company.

Okada and Usui had sought to quash the arrest warrant charges, stating that there is no basis for the issuance of a warrant of arrest.

However, the trial court threw out the motion on May 6 saying that it was “not convinced that there is clear absence of probable cause for the issuance of warrant of arrest.”

In a statement over the weekend, Okada said that he and Usui would continue to fight the allegations against them.

“Mr. Okada and Mr. Usui will vigorously defend themselves against…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,” said Okada’s lawyers in a statement.

Both executives said it was impossible for them to commit estafa, especially Okada, who was in full control of the company when the alleged payment occured.

“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,” the lawyers said.

“It is therefore absurd for him (Okada) to defraud, or conspire to defraud, his own company for a measly $3 million,” they added.