The Philippine Department of Justice has found cause to indict Okada for three counts of "swindling," following his acquisition of $3.2m in salary and consultancy fees "through mistake or fraud."
The charges relate to his tenure as CEO of Manila casino operator Tiger Resort Leisure and Entertainment Inc, according to a Reuters report.
Okada has dismissed the accusations and filed a motion for reconsideration, with his bail fixed at 348,000 Philippine pesos ($6,627).
Last year, Okada was ousted from his role at Universal Entertainment, which is Tiger Resort’s parent company, after being accused of misappropriating $20m.
He denied wrongdoing but is now on bail after his August arrest in Hong Kong for multiple corruption-related charges.
In September, Okada filed a lawsuit against Tiger Resort, claiming his dismissal was "unlawful," with the aim of being reinstated as Shareholder, Director, Chairman and CEO of the company.
