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Posted on 02/19/2012 6:25:38 PM PST by ColdOne
NEW YORK (Reuters) - Wynn Resorts Ltd Chief Executive Steve Wynn upped the ante in his fight against former business partner Kazuo Okada, accusing the Japanese gaming mogul of improper payments to foreign gaming regulators and forcibly buying back his 20 percent stake in the casino company at a deep discount.
A spokesman for Okada was not immediately available to comment on the developments.
Wynn Resorts said on Sunday its board had decided Okada was "unsuitable" after reviewing a report presented to the Wynn board on Saturday that found more than three dozen instances over a three-year period in which Okada and his associates allegedly engaged in "improper activities for their own benefit in apparent violation of U.S. anti-corruption laws."
The report came after a year-long investigation by several outside investigators, including a former director of the Federal Bureau of Investigation, hired by a company compliance committee to scrutinize Okada and his associates.
The company accused Okada and his associates of making improper cash payments and gifts totaling about $110,000 to foreign gaming regulators, including in the Philippines.
(Excerpt) Read more at news.yahoo.com ...
An updated (as opposed to a remake of) “Atlas Shrugged” would base one of its characters on Mr. Steve Wynn.
I’ll guess thats why Wynn leaves Obama alone now.
Now? Has something changed? Not long ago, Wynn’s stated position on Obama was in the negative.
Wow... That was my instant first thought exactly.
OK, let’s see where it is. I very much recall Wynn in Detroit talking about our failure in the WH.
just last fall.
That is what happens when you make deals with Yakuza.
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