Thursday, January 27, 2011

Mystery deepens in Macau tycoon's family brawl

Drama over Macau tycoon Stanley Ho's fortune deepened Wednesday, as his lawyer denied claims that he had been sacked and vowed to sue relatives for allegedly stealing Ho's casino empire.

The 89-year-old Ho, who turned the former Portuguese colony of Macau into Asia's gambling capital, on Tuesday claimed that he had been "robbed" by members of his second and third families.

Ho, who has had at least 17 children with four wives, said some of the relatives had "fraudulently misappropriated" his flagship company, SJM Holdings, and threatened court action.

His relatives hit back, issuing several statements and letters claiming that the tycoon, who has suffered from ill health in recent years, had approved the distribution of his fortune and that his lawyer had been fired.

Ho's lawyer Gordon Oldham said he remained very much in the casino magnate's employ.

"I don't put much weight on press releases issued at 12 o'clock at night when Dr Ho is fast asleep," he told Cable News television Wednesday.

Full Story

No comments: