CHINA: Hong Kong court rules against dismissing the money laundering case of Birmingham City Football Club owner Carson Yeung

Record ID: 451695

  • Title: CHINA: Hong Kong court rules against dismissing the money laundering case of Birmingham City Football Club owner Carson Yeung
  • Date: 3rd May 2013
  • Summary: HONG KONG, CHINA (MAY 3, 2013) (REUTERS) EXTERIOR OF WANCHAI TOWER, WHERE WANCHAI LAW COURTS ARE LOCATED HONG KONG FLAG VARIOUS OF SIGN SAYING WANCHAI LAW COURTS VARIOUS OF REPORTERS AT ENTRANCE CARSON YEUNG, BIRMINGHAM CITY FOOTBALL CLUB OWNER, LEAVING BUILDING YEUNG WALKING THROUGH PHOTOGRAPHERS INTO CAR, DRIVER DRAWING CURTAIN TO COVER YEUNG CAR DRIVING AWAY
  • Embargoed: 18th May 2013 13:00
  • Keywords:
  • Location: Hong Kong, China
  • City:
  • Country: Hong Kong
  • Topics: Crime,Sports
  • Reuters ID: LVA8DUBUZWYG82IM787VGCPIUP1S
  • Story Text: Birmingham City Football Club owner Carson Yeung continues to face trial after a Hong Kong court on Friday (May 3) ruled against his application to drop his money laundering case that involves over HK$720 million (92.74 million U.S. dollars).
    On Monday (April 29), Yeung had pleaded not guilty to five charges, which prosecutors said occurred between 2001 and 2007, of dealing with property known or believed to represent proceeds of an indictable offence.
    His defence team had sought to dismiss the case, saying some related documents were no longer available.
    But Judge Douglas Yau said on Friday the defence failed to prove the missing documents would lead to an unfair trial, adding that cash transactions amounting to tens of millions would not be easy to forget.
    Making his opening statement, prosecution lawyer John Reading said almost all cash deposits going into five bank accounts during the seven year period were made by unknown parties for no apparent reasons.
    The judge adjourned the case until next Tuesday (May 7).
    Yeung has made several attempts to postpone the trial. It had been due to start last November but the hairdresser-turned-tycoon won a delay after his lawyers said more time was needed to gather evidence.
    Yeung, who heads Hong Kong-listed Birmingham International Holdings Ltd, was arrested in June 2011, since when trading in shares of the English second-tier soccer club's parent has been suspended.
    The company had a market value of $77 million U.S. dollars before the trading suspension.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2013. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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