Tomohiro Okada, the son of casino mogul Kazuo Okada, has admitted that he had played a part in the removal of his father from their family-owned company based on suspicion of impropriety, rather than any concrete evidence.
According to a report from Manila Standard published on Monday, Tomihiro made the admission about his father’s illegal removal from Okada Holdings Limited during a court hearing against his sister Hiromi Okada, who is attempting to nullify a 2017 share trust agreement between the two.
“There was nothing like evidence, and while there were no specifics, I was hearing talk about things that were very suspicious,” said Tomohiro.
“There were various suspicious stories, though not in the sense of being specific,” he added.
When asked if the stories were just suspicions, Tomohiro said “yes, of course.”
During the testimony, Tomohiro admitted that he prepared the share trust agreements for his sister Hiromi based on the claims of impropriety against his father.
In her lawsuit, Hiromi accused Tomohiro of coercing her into signing the Share Trust Agreement that ended up being disadvantageous to her and her father.
If the court favors Hiromi in her lawsuit, the trust agreement between the two will be nullified, meaning that Kazuo Okada will regain majority control of Okada Holdings, which could lead to him taking back his casino business.
In earlier statements, Kazuo Okada claims he was illegally removed as a director of Okada Holdings over baseless allegations.