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The alleged bribery-payment to the PAGCORs associate by Okada to be examined again | 04th December 2012 : WorldCasinoYellowPages

The alleged bribery-payment to the PAGCORís associate by Okada to be examined again

... 04 December 2012

The alleged bribery-payment to the PAGCORís associate by Okada to be examined again

The alleged unauthorized payments by Okada to an associate of (PAGCOR), the Philippine Amusement and Gaming Corporation would now be examined by a subsequent House committee on Good Government that would look into the decree filed two years ago by Neri Colmenares and Teodoro Casiño, the spokespersons with their queries regarding involvement of the former officials of PAGCOR in the supposed irregularities worth multi-million amounts. However, the presently elected leaders of PAGCOR are defending the concern by saying that nothing wrong has ever been done by their ex-employees. They have also expressed ignorance about embezzlement of any funds. Cristino Naguiat Jr., the chairman of PAGCOR favored cancellation of license of Manila casino of Universal in case the alleged bribery accusations are found to be genuine by the Department of Justice. However no action could be taken without proper follow-up and determination of the alleged scam, he said. Cancellation of the license without proper inquiry and sufficient proof may lead to legal proceedings by Universal and it is the duty of all concerned that investors faith in the authorities must be maintained. No steps should be initiated to promote the downbeat sensitivity among the persons who put their hard earned money at stake otherwise they would be there to file complaints against the biased cancellation decisions.

In fact, Louis Freeh – the ex director of FBI has laid allegations against Naguiat who has been alleged to have accepted bribe worth $110k relating to huge immodesties in respect of Okada at the Wynn Macau which happened soon after Naguiat took over as PAGCORs chairman. It seems that in the light of such charges, he wants to save himself as he refutes such allegations and considers himself as a guarantee spoil between Steve Wynn and Okada who are engaged in a hot fight. Steve Wynn is the chairman of Universal chairmans ex-associate Wynn Resorts.

Last week a story had appeared in the public about millions of dollars given to Efraim Genuinos associate Rodolfo Soriano by the Universal Entertainment of Kazuo Okada. Rodolfo Soriano is the ex-chief of PAGCOR. Now the same version is being pursued vigorously. The supposed payments were floated to seek blessings in the form of subsidies on levies, communication/road/rail network and global possession for promoting a casino facility in the Entertainment City in Manila Bay by Tiger Resorts Leisure and Entertainment, an auxiliary of Universal.

As reported earlier, a sum of $40m was in fact sent in 2010 by Aruze USA-the secondary unit of Universal to Future Fortune, the company from Hong Kong which transferred $5m onward to Peoples Technology Holding Ltd of Soriano. The balance amount of $35m was handed over to British Virgin Islands-registered Subic Leisure and Management. Nothing is certain as to who owns the Subic that reportedly transferred back an amount of $10m to the Future Fortune on the day of transfer of $35m itself, the reason of which are just beyond anybodys guess. However, being defensive, Universal has termed the concerned payments as the outcome of malafide intentions of its former workers who were charged by the company in August.

But the reports regarding confirmation of Subics payments to Soriano are not clear in their version of such alleged facts based on the personal contacts and interviews with the people and ex-workers who may be conversant with the examination. It is alleged that the concerned disbursements to Soriano refer to his assistance in getting the Universals Entertainment City venture cleared.
Universal on its own claims to have obtained its gaming license in Philippines two years earlier to the payments made out in 2010. Thats the strong proof to the fact that there is no link between the said sums and the Manila casino plan, the Philippine House of Representatives committee was requested by the executives of Universal. However one thing is certain that the cooperation sought and secured by Universal from Gloria Macapagal Arroyo, the president at that time falls almost in line with the time of the alleged disbursements. It may be noted that Gloria Macapagal Arroyos husband, Jose Miguel Arroyo was accompanied by Soriano in 2009 when they both visited Las Vegas.

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