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Birmingham owner Carson Yeung in court on money-laundering charges

Discussion in 'Birmingham City' started by Not606 News Team, Jun 30, 2011.

  1. Not606 News Team

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    Birmingham City president Carson Yeung has appeared in a Hong Kong court to face money-laundering charges.

    Mr Yeung was released on bail by the Eastern Court after being charged with five counts, with the trial now adjourned until 11 August.

    Hong Kong's narcotic bureau's financial investigations unit arrested Yeung at his luxury home in relation to money laundering of up to £59 million.

    Mr Yeung's lawyer, Daniel Marash, told Reuters: "All they're saying is that he has got a lot of money, and he hasn't paid a lot of tax.

    "I mean there's lots of money in my bank account, not as much as his, but I don't pay taxes because it's not taxable."

    Trading of shares in Blues' parent company, Birmingham International Holdings, was suspended on Thursday but could now start again following Yeung being granted bail.

    Yesterday Birmingham City's acting chairman, Peter Pannu, said he believed the police inquiries in Hong Kong were nothing to do with the club's parent company or subsidiaries.

    Yeung is Birmingham's largest single shareholder and has a 29.9% stake in the St Andrew's outfit. He took control of the Championship side in May 2009.
     
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  2. bluseychris

    bluseychris New Member

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