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Birmingham City's Carson Yeung on money-laundering charges

Birmingham City FC's president Carson Yeung has appeared in court in Hong Kong on money-laundering charges.


Mr Yeung was bailed by the Eastern Court in his home city after being charged with five counts.

BBC correspondent Annemarie Evans said he had been arrested by the narcotic bureau's financial investigations unit at his home.

Mr Yeung took control of the English football club, which was relegated to the Championship in May, in 2009.

'Tax issue'

The trial has been adjourned until 11 August.

Ms Evans said all five charges related to money laundering with the amount involved being up to £59m.

She said Mr Yeung had not entered a plea and little about the details of the charges was known.

News agency Reuters reported Mr Yeung's lawyer, Daniel Marash, as saying that it seemed to be a tax issue.

"All they're saying is that he has got a lot of money, and he hasn't paid a lot of tax," he said.

"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."

'Unrelated to club'

He also said trade in shares of the club's parent company, suspended on Thursday, may start again now he has been bailed.

Earlier, a statement put out by 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.

He said he had been informed by lawyers that Mr Yeung was assisting with inquiries that had nothing to do with Birmingham International Holdings Limited (BIHL) in Hong Kong and therefore nothing to do with the operation of the club.

Mr Yeung worked in England as a teenager before becoming a hairstylist in Hong Kong. He made his fortune through investing in nearby Macau in the 1990s.

He is Birmingham's largest single shareholder with a 29.9% stake.

Why bring up these Championship teams, Watson?  :angry:

The Legendary BoxingFan, on Jun 30 2011, 11:56 AM, said:

Well the link being McLeish really. Its the kind of Redknapp/Portsmouth thing again. He must have known something was afoot and thats why he jumped ship. Promised loads of money and nothing ever came. Got to wonder about those foreign owners no matter what division the team is playing in.

watson748, on Jun 30 2011, 11:15 AM, said:

Birmingham appear to be in a right mess.  I remember when he took over and promised all these funds for new transfers.  Now Birmingham are relegated and their owner is in the shit.

These foriegn owners are supposed to be vetted by the Premier League and FA.  To make sure that they don't run the club into the ground, as what happend with Portsmouth

West Brom confirm they are in talks with Fulham over Zoltan Gera.

  

Manchester City have confirmed the City of Manchester Stadium will be renamed the Etihad Stadium after signing a 10-year deal with the airline.

The Abu Dhabi-based company is already the club's shirt sponsor.

"We are delighted to be expanding our relationship with Etihad Airways through this partnership agreement," said City chief executive Garry Cook.

City, who won the FA Cup in May, were taken over by a consortium from Abu Dhabi in 2008.

In total, owner Sheikh Mansour has ploughed over £1billion into the club, helping City to win their first trophy since 1976 and finish third in last season's Premier League, earning a place in the Champions League.

However, last season City posted loses of £123.3m.

This sum would cause City to fall foul Uefa's new financial fair play regulations, which come into force this summer but will not take full effect until 2013.

Any side unable to match the criteria would be barred from playing in European competition - the Champions League and the Europa League.

Under the terms of the new rules, teams will not be able to spend more than the income they generate from the football side of their business - which includes gate receipts, TV deals and sponsorship.

Therefore, City's move to sell the naming rights to the stadium, which has had to be agreed by Manchester City Council, will contribute to the efforts to reduce footballing losses.

Although City have not made public the amount they have received from the deal, they will not be allowed to report an inflated sum to Uefa.

European football's governing body have made clear that all commercial deals will come under scrutiny in order to ensure that all clubs adhere to the new regulations


Top Flight Sponsored GroundsContinue reading the main story Arsenal - Emirates Stadium
Bolton - Reebok Stadium
Manchester City - Etihad Stadium
Stoke City - Britannia Stadium
Swansea City - Liberty Stadium
Wigan - DW Stadium


    

all the big clubs are scrambling for far east sponsorships as a result of these new rules.

even barcelona sold out the sacred no sponsorship policy.

time for a new thread i think

DGizzle, on Jul 8 2011, 08:58 PM, said:

I've said this before.

Watson believes on carrying the thread over to next season.  -_-  Just sayin'.

carry it over.

just change the thread title.

u know how to do that now don't ya BF.

The Legendary BoxingFan, on Jul 9 2011, 10:23 AM, said:

what club does he support?-_- I don't recall -_- that will go a long way in deciding if he can make the rules or not -_-

hitman_hatton1, on Jul 9 2011, 04:41 PM, said:

I didn't create the thread.  -_-

DGizzle, on Jul 9 2011, 08:44 PM, said:

As a guy who supports a team that battles against relegation, I'd prefer a new one each season.  It'd make it more exciting knowing my team has earned the right to post in the new thread every season, should they stay up.

1258: BREAKING FOOTBALL - Kevin Phillips has joined Blackpool on a free transfer from Birmingham after agreeing a one-year deal with the option for a further year.

Technically neither are two PL teams, but they were both only just relegated, I thought it might be of interest.  And considering Kevin's last three clubs have been Aston Villa, West Brom and Birmingham City it's a bit of a move for him.  He lived in the West Midlands.

The Legendary BoxingFan, on Jul 10 2011, 05:10 AM, said:

West Brom's days of being a yo-yo club are over for the time being thanks to this man