Tycoon Eric Hotung inconsistent when giving evidence against secret lover, lawyer tells court
Barrister for Winnie Ho says the HK$2 million that the billionaire gave her in 1961 was more like a gift than a loan
Billionaire Eric Hotung was inconsistent in making his case to claim ownership of certain shares in a casino business worth an “unimaginable” sum half a century ago, the High Court heard on Wednesday.
Hotung, 90, is suing his secret lover Winnie Ho Yuen-ki in a bitter lawsuit over HK$2 million he gave to her, allegedly on trust, to invest in her brother Stanley Ho Hung-sun’s then fledgling gambling business in Macau in 1961.
But the evidence he gave during four days of cross-examination earlier was described by a lawyer as fraught with inconsistencies.
Edward Chan King-sang SC, representing Winnie Ho, argued that Hotung only gave answers favourable to his claim. In making his closing submission, the barrister said Hotung had failed to explain why he needed to conceal his involvement in the gaming business.
The court earlier heard that Hotung was not on good terms with Stanley Ho at the time. But Chan argued that Stanley Ho had long known his sister was investing in his casino business with Hotung’s money and questioned the need for continued concealment.
Hotung was said to have transferred HK$2 million to the businesswoman half a century ago, but he denied it was a gift, as the sum was equivalent to two-thirds of his personal wealth at the time.
