Next Game

Birmingham v Fulham

Saturday, 27 September 2014, 15:00

Sky Bet Ch'ship

Carrow Road

Last Game

Norwich 2 - 2 Birmingham

Saturday, 20 September 2014, 15:00

Sky Bet Ch'ship

Birmingham owner found guilty

Birmingham City owner Carson Yeung has been found guilty by a Hong Kong court of five counts of money-laundering.

Last Updated: 03/03/14 at 12:30

Carson Yeung: Will be sentenced on Friday

Carson Yeung: Will be sentenced on Friday

More of the games that matter

2 years free Sky Broadband Unlimited for Sky Sports customers

Yeung, 54, had denied five charges of money-laundering between January 2001 and December 2007, totalling $93million.

District Court Judge Douglas Yau said Yeung had lied about how he made his money and exaggerated the amount of profit generated by his hair salon business.

"I find the defendant not a witness of truth. I find that he is someone who is prepared to, and did try to, lie whenever he saw the need to do so," said Judge Yau.

Yeung, who was dressed in a dark suit and striped tie, will be sentenced on Friday morning.

The businessman and other investors bought into Birmingham City in 2007 and acquired the rest in 2009.

Last month, Yeung resigned from parent company Hong Kong-listed Birmingham International Holdings Ltd (BIHL) while he awaited the verdict.

A week later, the indebted parent said it was selling a 12 per cent share in its UK subsidiary for HK$45m ($5.8m) to a little-known Chinese advertising firm.

Yeung was arrested in June 2011, when trading in shares of the English second-tier football club's parent was suspended.

They resumed trade on February 7 and have risen 39 per cent since then.

A statement from Birmingham's acting chairman Peter Pannu read: "I regret to inform all supporters and staff of our beloved club that Birmingham City F.C's former president and benefactor, Carson Yeung, was today convicted of all charges he faced following a protracted period of legal proceedings.

"I'd like to reassure all supporters and staff that today's verdict will have no impact on the day-to-day operations at the football club.

"Birmingham International Holdings Limited, the holding company, shall continue to support the football club under the leadership of the group's new chairman, Mr Cheung Shing, and will work to raise further investment to support Birmingham City F.C. going forward."

More of the games that matter

2 years free Sky Broadband Unlimited for Sky Sports customers

Related News

Most Commented

Readers' Comments

H

ilarious, thanks for that. But if I may, I do suspect the reason of your partners' ire is not Tottenham, but most probably all the compusilve gambling :)

DannySmith
Backing Costa To Keep Banging 'Em In

T

wo police horses in a paddock. Horse 1: What's with the long face? Horse 2: I'm working St James Park this weekend.

hump3.
Pardew braced for protests

T

wo things. First, I can't stop reading your name as 'Dane Bowers'. Second, you used the words 'philosophy' and 'Redknapp' in the same sentence.

ajsr1982
Can United's Defence Handle Ulloa?

Footer 365

Transfer News: Peter Crouch could earn new Stoke contract as QPR maintain interest

Mark Hughes is open to rewarding Peter Crouch with a new contract at Stoke as QPR remain interested in the striker.

Premier League: Crystal Palace beat Everton 3-2 at Goodison Park

Crystal Palace came from behind to beat Everton 3-2 and pick up their first win of the Premier League campaign.

Premier League: Frank Lampard haunts Chelsea as he earns Manchester City earn 1-1 draw

Frank Lampard stepped off the bench to score against his former club and salvage a 1-1 draw for Man City at home to Chelsea.

Mail Box

Liverpool Aren't Even Exciting This Season

Liverpool fans are seemingly resigned to slipping back into mediocrity, which in September isn't exactly ideal. Plus better Arsenal, Allardyce praise and an excited Saint...

Be Careful What You Wish For, Gooners

That's the message from a Man United fan in the mailbox. Plus, thoughts on Paul Lambert's new contract, the Alan Pardew dilemma at Newcastle and lots more...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property