Who would have thought that the possible downfall of Japanese billionaire Kazuo Okada will begin with the cracks forming inside his own home?
Reuters reported that Okada’s family has led the boardroom coup against the septuagenarian casino mogul, which resulted to the latter’s ouster as a director of HongKong-based Okada Holdings Ltd. Okada Holdings owns 69 percent of Tokyo-listed gambling firm Universal Entertainment Corp.
The report cited at least three anonymous sources, who all claimed that money and control over the HongKong investment company sparked the Okada family feud. According to the source, one of those who challenge Okada’s authority was his son Tomohiro.
Tomohiro, according to news wire agency, was upset with how his father was using Universal dividends allocated to Okada Holdings.