Jailed ex-soccer boss Carson Yeung sued for return of HK$118m
The jailed former owner of Birmingham City Football Club, Carson Yeung Ka-sing, is being sued for the return of more than HK$118 million he took for entertainment and personal use over about three years, according to a High Court writ.
Yeung signed a consultancy agreement on behalf of the club and his then company Birmingham International (BIHL), and later transferred money out of them to two other firms based on the deal, the writ showed.
The sole director of the latter two firms, Asia Rays and Amazing Top International Enterprise, was Yeung's friend and trusted confidante, Peter Pannu.
The club and Birmingham International, which is under a receivership order, are now seeking the money from Yeung, Asia Rays and Amazing Top.
According to the writ, Yeung signed the consultancy deal with Asia Rays in October 2009 and then appointed Amazing Top as legal consultants in 2010.
The agreement required BIHL to lend Pannu HK$2 million to buy a British property so he could oversee the club's operations, and to pay Asia Rays HK$310,000 a month for six months. The plaintiffs claimed Yeung, based on the deal, caused them to move funds, including his salary, to the two firms between 2010 and 2012.
Birmingham International's board of directors had not authorised Yeung to sign the deal and therefore it had no binding effect on the company, the writ said.
"BIHL did not instruct Mr Pannu or Asia Rays to perform any service pursuant to the Asia Rays agreement," the writ said.
"To the extent that Mr Yeung gave any instructions to Mr Pannu or Asia Rays, Mr Yeung did so solely in his personal capacity and without any authorisation from the BIHL board."
Both plaintiffs said Asia Rays did not provide them with any service, while Pannu offered only legal advice over Yeung's money laundering case and other lawsuits. They also said Amazing Top was not entitled to any payment from them.
