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'It was all a misunderstanding,' says Stanley Ho, according to third wife
Third wife Ina Chan produces a statement signed by Ho saying he's not upset about the recent drama over the splitting of company shares
Stanley Ho has not stepped out to speak in person regarding the drama over company assets.Stanley Ho's third wife Ina Chan held a press conference late last night to reveal a letter signed by the ageing tycoon, stating the recent drama over the splitting of his company's shares was "all a misunderstanding."
Ho previously owned a controlling 32 percent share of STDM, the parent of Asia's largest casino operator SJM Holdings Ltd.
In an announcement by SJM on Monday it was revealed that Ho's shares are now split between his third wife Ina Chan, as well as the children of his second wife Lucina Laam.
Reports surfaced on January 25 that lawyer Gordon Oldham, representing Ho, claimed the Macau billionaire may take "vigorous action" against family members for the alleged fraudulent misappropriation of Ho's shares.
Late evening on the same day, Ho was seen visiting the homes of his second and third wives. Near midnight, Ina Chan called for a press conference where she read from a handwritten statement signed by Ho.
"The recent Ho family drama has stormed the city. It is time for it to stop!"
"Family affairs can be resolved behind closed doors."
"It is all a misunderstanding. There is no deception amongst family."
Speaking on behalf of Ho, Chan said the splitting of company shares was "100 percent sincere" and that Oldham has been sacked. But Oldham insists that he still represents Ho.
Meanwhile, shares in SJM fell as much as 8.8 percent since it was suspended from trade on Tuesday.
