Carson Yeung

Born in February 1960, Carson Yeung Ka-sing is a Hong Kong businessman and former hairdresser best known as the owner of Birmingham FC. He is also chairman and executive director of Birmingham International Holdings, an investment, entertainment and sportswear firm registered in the Cayman Islands. In June 2011, Yeung was arrested at his Hong Kong home in connection with alleged money laundering. He was subsequently charged with dealing with property known or believed to represent proceeds of an indictable offence.

NewsHong Kong
COURTS

Carson Yeung's access to father's account disputed in court

PUBLISHED : Thursday, 20 June, 2013, 12:00am
UPDATED : Thursday, 20 June, 2013, 4:19am
 

A prosecutor has challenged an assertion that Birmingham Football Club boss Carson Yeung Ka-sing had not been authorised to operate his father's securities trading account.

Lippo Securities former associate director Jackie Pan Chik, giving evidence in Yeung's HK$721 million money-laundering trial, said on Monday the businessman, 52, was never authorised by his father, Yeung Chung, to manage the account.

But prosecutor John Reading SC put to Pan a statement he made to the Securities and Futures Commission in 2002.

Reading told the District Court yesterday that Yeung Chung "also gave oral authorisation to K.S. Yeung to place orders on his behalf".

Yeung is accused of knowingly dealing in ill-gotten gains involving HK$721 million and five bank accounts from January 2001 to December 2007.

On Monday, Pan said "yes" when defence lawyer Graham Harris SC put it to him that no one, including the younger Yeung, could operate Yeung Chung's account unless he was so authorised.

Pan said: "All along, I have adopted the present Securities and Futures Commission requirement that a client can operate an account after obtaining written authorisation."

Pan said his "impression" was that Yeung was not authorised to manage the account and he would not have let him do so without his company's approval.

The court also heard that HK$2.15 million that Pan transferred to Yeung's account in November 2007 was related to a residential and commercial property project in Inner Mongolia .

Mainland company Massive Bond was responsible for the development of the project, the court heard.

The trial continues today before Judge Douglas Yau Tak-hong.

 

Share

Send to a friend

To forward this article using your default email client (e.g. Outlook), click here.

Enter multiple addresses separated by commas(,)

Related topics

For unlimited access to:

SCMP.com SCMP Tablet Edition SCMP Mobile Edition 10-year news archive