..

Ho Family Reaches Settlement Over Macau Gambling Empire

Written by:
Aaron Goldstein
Published on:
Mar/10/2011
Stanley Ho

A weeks long feud over the Macau gambling empire of billionaire tycoon Stanley Ho has come to an end, at least for now.

He issued a statement early Friday saying that all members of his family had reached “a full and final agreement based on the principle of mutual understanding”.

The family has been fighting over a stake in Ho’s empire that he claims was transferred without his consent. 

The 89-year-old once monopolized what is now the world’s largest gambling hub.

Over the past two months, Ho has implied that some of his 16 surviving children and wives were “thieves”.

After initially threatening to sue some family members, Ho appeared on television claiming “all was well”.  He later claimed otherwise.

Stocks in the Ho family’s SJM Holdings have suffered as a result of the in-fighting.

Stanley Ho’s fortune has been estimated around $3.1 billion.  Last year the casino tycoon entered a hospital where doctors reportedly performed brain surgery. 

Gambling911.com readers became more familiar with the Ho empire via its Antiguan-based “live casino” enterprise that was once managed by Adam Anhang.   Mr. Anhang was brutally stabbed to death in Puerto Rico in 2005, allegedly a contract killing by his wife.

- Aaron Goldstein, Gambling911.com

Business/Financial News

Lithuania Dabbles in Crypto-Coin as Central Banks Look for Ways to Fend off Facebook

Lithuania Dabbles in Crypto-Coin as Central Banks Look for Ways to Fend off Facebook

Lithuania is about to issue the first central bank-produced digital coin in the euro zone, part of a project to trial state-backed digital currencies and blockchain technology in everyday use.

'Sophisticated' Hacker Plunders $450,000 From Defi Protocol Balancer

'Sophisticated' Hacker Plunders $450,000 From Defi Protocol Balancer

In two separate transactions, an attacker targeted two pools containing Ethereum-based tokens with transfer fees – or so-called deflationary tokens.

Lobbyist Abramoff Charged in Cryptocurrency Fraud Case

Lobbyist Abramoff Charged in Cryptocurrency Fraud Case

Jack Abramoff, a once-powerful lobbyist who spent time in federal prison for fraud and corruption, has been charged in a San Francisco court in an investor fraud case involving cryptocurrency and lobbying disclosure, federal authorities announced Thursday.

New Zealand Seizes $90M From Russian Bitcoin Fraud Suspect

New Zealand Seizes $90M From Russian Bitcoin Fraud Suspect

New Zealand police said Monday they have seized $90 million from Alexander Vinnik, a Russian bitcoin fraud suspect who is in French custody but is also wanted in the United States.

Canadian Crypto Firm Collapsed Due to Ponzi Scheme by Late Founder, Regulator Says

Last year’s collapse of Canadian cryptocurrency trading platform Quadriga CX was due to a Ponzi scheme operated by founder Gerald Cotten, who died suddenly in December 2018, the country’s biggest securities regulator said on Thursday.

Syndicate