Shipping Tycoon, Mom Conspired To Hide Assets, Judge Says

Law360, London (July 9, 2021, 5:55 PM BST) -- A London judge has held that the 86-year-old mother of a Taiwanese shipping magnate helped him avoid a Greek shipper's $60 million ruling by hiding the proceeds from the sale of two villas and a private jet.

High Court Judge Simon Bryan said on Thursday that he was satisfied that Toshiko Morimoto, aka Madam Su, was "up to her neck" in a conspiratorial arrangement with her son Nobu Su, which also involved family-owned companies.

As a result, potentially tens of millions of dollars were concealed from Lakatamia Shipping Co., making it more difficult for the company to recover the more than...

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