Carson Yeung

Carson Yeung to call six witnesses in money-laundering trial

Football club boss to call six witnesses in HK$721m money laundering case after judge hears of series of payments from Macau casino operator

PUBLISHED : Thursday, 13 June, 2013, 3:31pm
UPDATED : Friday, 14 June, 2013, 9:36am

A judge ruled yesterday that Birmingham City Football Club boss Carson Yeung Ka-sing had a case to answer on a money-laundering charge involving more than HK$700 million.

District Judge Douglas Yau Tak-hong gave the ruling yesterday after listening to all the prosecution witnesses.

Graham Harris SC, for Yeung, said at least six defence witnesses would be testifying and also did not rule out the possibility of Yeung taking the stand.

The witnesses will include a staff member from Sociedade de Jogos de Macau, and representatives from law firms and forensic accountants. The accountants that Yeung has engaged are Ian Robinson and Mark Pulvirenti.

The court heard earlier that SJM, one of six companies authorised to operate casinos in Macau, issued a series of cash payments and cheques totalling HK$72.45 million that were deposited in Yeung's accounts from late 2004 to early 2005.

It also heard that a cashier's order for HK$35 million was made payable to SJM from Yeung's bank account in January 2005. Two days later, it was redeemed.

The prosecution had also produced Yeung's travel records showing that he was not in Macau when he made most of his requests to SJM for cash cheques in 2004 and 2005.

Yeung denies laundering HK$721 million through five accounts held with Wing Lung Bank and HSBC. The alleged offences took place between January 2001 and December 2007.

In 2007, Yeung became executive director and chairman of Grandtop International Holdings, which is now known as Birmingham International Holdings. The next year, Grandtop acquired 29.9 per cent of the issued capital of Birmingham City plc for HK$237 million.

Prosecutor John Reading SC said earlier that the HK$721 million deposited in five accounts was not commensurate with Yeung and his father's combined income of HK$2,159,392.

The court earlier heard that Yeung was fined HK$43,000 for failing to perform a duty of disclosure within a proper period under the Securities Ordinance.

He had acquired a notifiable interest in the shares of Cedar Base Electronic (Group) at various dates between May and July 2001, but did not disclose it to the regulator in writing within the deadline.

The trial continues today.