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Lawyer tapes casino king asking that suit proceed
Headline News |
2011/01/31 22:52
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| Lawyers for Stanley Ho released three videos Monday that they say show he wants to continue with a lawsuit against family members accused of seizing the tycoon's $1.6 billion stake in his Macau casino empire.pIt's yet another twist in a family feud that erupted last week over who will control Ho's interests in the world's biggest gambling market./ppHo, who was hospitalized for seven months after reportedly undergoing brain surgery in August 2009, has 16 surviving children by four women he calls his wives. The unfolding drama highlights a power struggle among different branches of the family for control of his lucrative gambling business./ppThe video clips show the 89-year-old billionaire answering questions from his lawyer, Gordon Oldham, about the dispute, which became public when Hong Kong-listed casino operator Sociedade de Jogos de Macau, or SJM, said nearly all of Ho's shares were being transferred to the families of his second and third wives./ppIn one video dated Jan. 25, Ho tells Oldham that he was forced to sign some documents for the transfer and calls it something like robbery./ppWe still go ahead, Ho says when Oldham asks him what to do if the two families don't reply to requests to return the stake./ppHo is currently hospitalized for what Oldham said was a procedure involving a tube in his throat that allows him to breathe. Oldham said he planned to see Ho later Monday evening./ppHo also denies that the transfer of ownership of a holding company named Lanceford — which indirectly owns the stake in SJM and represents the bulk of his assets — to the two families was part of succession plans put in place in December./p |
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