CHINA: Hairdresser-turned-tycoon and Birmingham City Football Club owner, Carson Yeung, arrives at court to testify in his money laundering trial

Record ID: 451702

  • Title: CHINA: Hairdresser-turned-tycoon and Birmingham City Football Club owner, Carson Yeung, arrives at court to testify in his money laundering trial
  • Date: 7th November 2013
  • Summary: HONG KONG, CHINA (NOVEMBER 7, 2013) (REUTERS) CARSON YEUNG, BIRMINGHAM CITY FOOTBALL CLUB OWNER, ENTERING WANCHAI TOWERS, WHERE WANCHAI LAW COURTS ARE LOCATED YEUNG'S CAR DRIVING AWAY EXTERIOR OF WANCHAI TOWERS HONG KONG FLAG VARIOUS OF PEOPLE WALKING IN FRONT OF SIGN WITH WORDS "WANCHAI LAW COURTS"
  • Embargoed: 22nd November 2013 12:00
  • Keywords:
  • Location: Hong Kong, China
  • City:
  • Country: Hong Kong
  • Topics: Crime
  • Reuters ID: LVA1G4QQLDT7HRO4THFO0W498CN6
  • Story Text: Birmingham City Football Club owner Carson Yeung arrived in court on Thursday (November 7) and was expected to wrap up his testimony in a $93 million money-laundering trial that has cast a spotlight on how the barber-turned-businessman made his fortune and his close ties with Macau's casino world.
    Yeung has denied five charges of money-laundering involving HK$721 million ($93 million). The offences allegedly took place from January 2001 to December 2007 and involved five bank accounts.
    Yeung, a former hair stylist to Hong Kong's rich and famous and who heads Hong Kong-listed Birmingham International Holdings Ltd, told the court he amassed his wealth through hairdressing, share trading, real estate purchases in Southeast Asia, Hong Kong and London, gambling and other investments.
    His lawyers have insisted that Yeung is a successful businessman whose investments provided money to buy assets including various properties, a custom-made Mercedes Maybach car for about HK$6 million and an 88-foot yacht worth about HK$49 million.
    When Yeung's defence lawyer asked if Birmingham City Football Club had been bought with dirty money, Yeung replied that was "impossible" and said the money was legitimate.
    Football fans, some of whom have blamed Yeung for failing to help lift the fortunes of the Birmingham City Football Club team, which dropped out of the Premier League in 2011, will be watching the outcome closely.
    Closing arguments are due at the end of this year with a verdict not expected until next year.
  • Copyright Holder: REUTERS
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