Hong Kong businessman Carson Yeung, also owner of Birmingham City football club, arrives for the verdict in his money laundering trial at Hong Kong District Court Monday, March 3, 2014. Yeung was found guilty of money laundering by the Hong Kong District Court and was convicted over charges relating to his handling of 721 million Hong Kong dollars ($93 million) using five bank accounts between January 2001 and December 2007. (AP Photo) (The Associated Press)
HONG KONG – Carson Yeung, the owner of English Championship club Birmingham City, has been sentenced to six years in jail for money laundering.
Hong Kong District Court judge Douglas Yau handed down the sentence Friday. Yeung was found guilty on Monday over his receipt of 721 million Hong Kong dollars ($93 million), using five bank accounts between January 2001 and December 2007.
The court had heard that 54-year-old Yeung and his father, who died in 2012, reported no earnings while the vast sums were deposited into the bank accounts.
Some deposits were made by securities firms and a Macau casino company, while others were made by unknown parties, many in cash.
Yeung had resigned his directorship with Birmingham ahead of the verdict and his stake is now below 30 percent, ensuring he does not breach league rules concerning people convicted of offenses involving dishonesty.
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