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Asia's richest woman accused of illicit transfer of husband's shares
( 2001-08-02 14:19 ) (7 )

Asia's richest woman has been slapped with a writ alleging she improperly alloted herself shares in her missing husband's company, a report said Thursday.

Nina Wang, the flamboyant head of Hong Kong's leading private property developer Chinachem Group, was reported to have improperly allotted herself HK$1.5 billion (US$192.6 million) worth of shares in Chinachem just months after her husband, Teddy Wang, was kidnapped in 1990.

"Since the disappearance of Mr. Wang in April 1990, Madam Wang has engaged in a course of conduct and/or act or acts designed to expropriate Mr. Wang's majority shareholding in Chime (Chinachem) in her favour and to obtain collateral benefits therefrom," said the writ, lodged by the administrators of Teddy Wang's estate, according to the Hong Kong iMail.

Teddy Wang, who founded Chinachem and Chime + an export/import firm that belongs to Chinachem + has not been seen or heard from since he was kidnapped.

His wife has also been embroiled in a legal battle over her husband's 1968 will, which her father-in-law Wang Dinshin, 90, claims was forged.

Nina Wang maintains her husband is still alive, while his father believes he is dead.