Next Game

Birm'ham v Derby

Friday, 26 December 2014, 15:00

Sky Bet Ch'ship

Last Game

Huddsf'ld 0 - 1 Birm'ham

Saturday, 20 December 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

Upgrade in minutes or watch with a NOW TV Day Pass.

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

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

I

really enjoyed this. Thanks F365 for another year of work avoidance - happy Christmas.

megabrow (cufc)
Our Person Of The Year: Alan Pardew

I

m no Sam Fan and this article sums him up beautifully. I always like to imagine that when he watches anything on TV and hears clapping, he stands up and aknowledges the applause, thinking its for him!

cozens
Football Managers On TV: Sam Allardyce

N

ah, Fergie is just having another pop at Rooney. He just wants to put him down whenever he gets a chance. Rooney is by far the best English player. Carrick is not far behind, mind. However, by elevating Carrick like that, Sir is having a dig at Wayne. Fergie is well-known for mind games like that. Good to see he's still feisty.

timbo
Van Gaal will thrive - Ferguson

Footer 365

Premier League: QPR look for result against Arsenal, Rio Ferdinand in selection contention

QPR boss Harry Redknapp says Rio Ferdinand could be back in the team as the squad is rotated through the festive period.

Premier League: Nemanja Matic says Chelsea can win quadruple

Chelsea midfielder Nemanja Matic insists the Blues can win the quadruple this season.

Premier League: Ronald Koeman facing selection crisis ahead of Southampton's match against Everton

Harrison Reed's impressive display against Everton has given Ronald Koeman a selection dilemma.

Mail Box

Van Gaal's Half-Term Report Card...

One Man United fan isn't happy with the rate the team is progressing under Louis van Gaal, while the mailbox also wishes Liverpool fans a Merry Mid-Table Christmas...

Hang On, Rafa's Success Is No Fluke...

The afternoon mailbox kicks the morning mailbox's arse after claims that Rafa Benitez has fluked his success. Plus, big talk about Liverpool's progress and lots more...

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