Casino Operator Universal Entertainment Loses President over Payment Scandal
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The drama is just one of many Universal, which owns the Okada Manila in the Philippines and other casinos, has been struggling to put behind it for close to a decade. As a result of the transfer of the funds, which Fujimoto allegedly never received clearance for, shareholders had accused him of fiduciary negligence and other violations of his position and had pushed to force him out several years ago.
A lower court, however, ruled against them almost two years ago and Fujimoto was able to retain his positions. The Tokyo High Court’s decision, which was issued at the end of last week, should put a definitive end to the protracted legal battle.
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