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FBI probe of Universal focuses on $25 million consultant fee company now disavows

The FBI and Philippine investigators probing potential bribery related to Universal Entertainment Corp's bid to build a casino in Manila have zeroed in on a $25 million payment the Japanese company now says should never have been made.Rodolfo Soriano, a consultant with ties to the former head of the gaming regulator in the Philippines, received the fee in 2010 to secure land rights for the $2 billion casino, Universal had said. But records reviewed by Reuters show those rights were obtained for free in 2009.The FBI is involved because the payment originated from a Universal subsidiary based in Nevada. Both the FBI and the Philippine National Bureau of Investigation (NBI) have been looking into a total of $40 million in transfers to Soriano as a possible bribery case since last year.In a closed-door, three-day hearing with the Nevada Gaming Control Board that concluded on Friday, Universal directors, including the company's billionaire founder Kazuo Okada, were questioned about the paym...

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  1. Osaka Bourse Probes Universal Entertainment

    The Osaka Securities Exchange is holding an investigation into how Universal Entertainment Corp. (6425.JA) did its accounting for 2010 payments worth millions of dol...

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    CME Group Inc. (CME) is exploring ways to strengthen relationships with exchanges in China and Japan, according to the futures market operator's chairman emeritus.Th...

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    TOKYO (Reuters) - Tokyo Stock Exchange has proposed a tender offer for Osaka Securities Exchange Co <8697.OS> as the two bourses proceed in merger talks, Japan's Asa...

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