- Title: CHINA: Carson Yeung enters court to continue testimony in money laundering trial
- Date: 12th November 2013
- Summary: HONG KONG, CHINA (NOVEMBER 12, 2013) (REUTERS) CARSON YEUNG ENTERING COURT VARIOUS OF WANCHAI LAW COURT EXTERIOR HONG KONG FLAG
- Embargoed: 27th November 2013 12:00
- Keywords:
- Location: China
- Country: China
- Topics: Crime
- Reuters ID: LVA7OGZ2CACLXNHZE9VRZNHQDB8U
- Story Text: Businessman and Birmingham City FC owner Carson Yeung arrives at a Hong Kong court to give more testimony as his US$93 money laundering trial.
Birmingham City Football Club owner Carson Yeung arrived in court on Tuesday (November 12) to continue his testimony in a $93 million money-laundering trial.
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.
Yeung's testimony is expected to wrap up on Tuesday.
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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