Carson Yeung has further tax blues

News header redDisgraced Birmingham City owner, Carson Yeung, convicted in March this year on a charge of money laundering, is facing further charges from a Hong Kong court.

The former hair stylist, who laundered a massive £57 million, was sentenced to six years in prison for the offences but is now heading for another court date. Yeung is implicated in a civil action in Hong Kong worth £175,000 (2.3 million Hong Kong Dollars), after a lender claimed he had failed to abide by the terms of their financial agreement. Hansom Finance, the complainant in this civil action, allege that Yeung’s debt arose after he borrowed cash from the company but only repaid the interest on the loan.

Yeung’s legal team had initially petitioned the Court Master, Hui Ka-ho, to allow them four weeks to prepare a defence, citing the fact that Yeung is in Stanley Prison; however, the request was denied and only two weeks were granted after Hansom’s lawyers claimed the case was “simple” and “straightforward.”

The Former Birmingham City chairman repeatedly denied the claims of money laundering in the run-up to his first court case but the evidence suggested otherwise and he finds himself in a prison which was, last month, named one of the world’s 25 worst. Yeung repeatedly claimed that his vast personal wealth came from gambling, his hairdressing business and the stock exchange. He also cited various business ventures as another, rather vague, source of income.

Yeung purchased the controlling stake in Birmingham City FC from David Sullivan and David Gold in October 2009, for £81.5 million. He arrived in a haze of soon-to-be broken promises that he would slash ticket prices and stump up £40 million for transfers but, just two years after the purchase, he was facing charges.

Although Yeung resigned his position at the club prior to his conviction, he remains the major shareholder and de facto owner.

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