Carson Yeung, who controls English soccer club Birmingham City, lost a bid to delay his trial on money laundering charges until June 2013.
District Court Judge Stanley Chan today dismissed the argument of Yeung’s lawyer that the freezing of the businessman’s assets has prevented him hiring a defence team to prepare for trial next week. The court action will begin on November 28 as scheduled, Chan said.
Birmingham International Holdings Limited, the British West Midlands-based team’s parent company, has been suspended in Hong Kong since June last year when its chairman Yeung was charged with five counts of money laundering with a total value of HK$721.3 million (US$93 million). Yeung has posted HK$8 million in bail and was refused permission to leave Hong Kong.
Yeung bought the team, which was relegated from the elite Premier League last year, for £81.5 million (US$130 million) in 2009. Birmingham International said last month it was in talks with two possible buyers of the team.
The company also announced last month that its auditor BDO had resigned citing reservations over its internal controls and further delaying the release of its results.