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Macao gaming tycoon at war with sprawling family

Macao gaming tycoon at war with sprawling family

Write: Ixchel [2011-05-20]
Stanley Ho, the ailing 89-year-old tycoon who turned Macao from a sleepy village into Asia's gambling capital, is reportedly accusing his many relatives of stealing his fortune.
The accusation came a day after a Hong Kong stock exchange filing said that he had agreed to split his stake in flagship SJM Holdings among his 17 children born to four wives. The colorful Ho, once known for his playboy lifestyle, was hospitalized in mid-2009 for unspecified reasons.
His fortune is reportedly worth $3.1 billion. Ho's lawyer told local media the tycoon was "hopping mad" about the transfer, accusing relatives of hijacking his casino empire. "...we have been instructed to vigorously pursue and protect his interests," said Gordon Oldham, a partner in law firm Oldham, Li & Nie.
Oldham said it was possible that the frail Ho may have signed the transfer documents.
"Obviously he signed something, but it wasn't explained what the effect of that would be," he said.