THE widow of one of Scotland’s most notorious and feared gangsters, Tam ‘The Licensee’ McGraw, has reportedly died after losing her battle with cancer.

Margaret McGraw succumbed to the illness on Monday night at the age of 65.

She leaves behind 23-year-old grandson Connor McGraw, 23.

Her only son William died in non-suspicious circumstances in 2013 at the age of 41.

READ MORE: Heart attack brings to an end notorious life of crime

According to The Scottish Sun, a source said: “Margaret was ill for some time but her death is still a shock.

“Despite her hubby’s colourful life, she was never caught up in brushes with the law. She was a wealthy woman and she will leave a lot of money behind.”

Another underworld source added: “She’s a woman who is feared and respected and she helped Tam build up his fortune.”

“She’s worth millions and it’s not clear who would inherit the money and the property,” added the source, according to the Daily Record.

McGraw died from a heart attack in 2007.

READ MORE: Crimelord McGraw laid to rest

The 55-year-old millionaire crime boss collapsed at his luxury home in Carrick Drive, Mount Vernon, on the afternoon of July 30.

More than 300 mourners attended Daldowie Crematorium on August 7 to big a final farewell to the powerful crimelord.

McGraw was a feared member of the city’s underworld with links to drug trafficking and extortion.

For more than 30 years, he ruled the Glasgow underworld and built up an estimated £15 million empire from drugs.

Former gangster rival Paul Ferris wrote in his autobiography that McGraw had a deal with police that saw him sell on confiscated drugs.

READ MORE: Licensee's brother murdered and police probe second killing

McGraw was also said to be a key figure in the infamous Ice Cream Wars in Glasgow's East End in the 1980s.

The conflict culminated in the murder of six members of the same family in a blaze on a housing estate.

TC Campbell, who had his conviction for the killings quashed, said on his release from jail that McGraw was responsible for the deaths.

Inside the lair of city’s secretive crime lord, former Evening Times journalist Calum MacDonald told of his brush with the late gangster a day after his death. Read more on that here.