Birmingham City Owner Denies Money Laundering

Written By Unknown on Senin, 29 April 2013 | 23.33

Birmingham City Football Club's owner Carson Yeung has pleaded not guilty to money-laundering charges at the start of his long-delayed trial.

The former hairdresser from Hong Kong was arrested and charged in June 2011 with five counts of knowingly dealing in ill-gotten gains worth millions of dollars.

Yeung's lawyer, Graham Harris, told the district court in Hong Kong: "Carson Yeung will not receive a fair trial. He is prejudiced as such that no fair trial is possible."

The alleged offences occurred between 2001 and 2007.

Mr Harris said a "significant portion" of the 52-year-old's wealth came from "lawful and legitimate stock trading" before this period.

He added that Yeung would be unable to prove his innocence because official papers that could trace stockbroking activities are only kept for seven years in Hong Kong.

Prosecutors have claimed investigations revealed HK$720m (£60m) passed through five accounts connected to Yeung, who has been on bail since he was charged.

Media reports have described how Yeung made his first fortune on cheap stocks, then increased his earnings by co-founding Greek Mythology - a casino in gambling haven Macau - in 2004.

His other business interests include investments in "apparel sourcing trading, entertainment and media services" through Birmingham International Holdings (BIH).

BIH, controlled by Yeung, is the parent company of Championship football club Birmingham City, which he took control of in October 2009.

He has made several unsuccessful attempts to postpone or strike out the charges.


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