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Against the odds

5-MIN READ5-MIN
SCMP Reporter

Self-made multimillionaire Yang Yuan-loong was likeable and cosmopolitan, a man who rubbed shoulders with British colonial rulers, Australian jockeys and the average Hongkonger.

He was also a cheat. The textile tycoon and horse owner was at the centre of the 1986 Shanghai Conspiracy case, which rocked the Royal Hong Kong Jockey Club to its sedate foundations. He died on June 26, his 83rd birthday, in Adventist Hospital.

It was a death that was a long time coming: doctors said in 1986 when Yang was on trial for conspiracy to cheat at gambling that the wealthy merchant was dying of uncontrolled diabetes and bone cancer and had only weeks or months to live.

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Accepting a plea for mercy, Mr Justice Addison in September 1986 sentenced Yang to a two-year suspended jail term and fined him HK$5.4 million.

Yang immediately wrote a cheque to pay the fine and two days later travelled overseas. He spent much time in Jamaica and reportedly was treated for bone cancer in the US.

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Sentencing Yang, the judge described him as 'thoroughly dishonest'. He had embarked on a 'monumental form of cheating', Mr Justice Addison said. Yang was the mainspring of the conspiracy of an elaborate race-fixing racket.

As Yang sat weeping in court during the short hearing after he pleaded guilty to six charges of conspiring to cheat at gambling, testimonials to his character were read out.

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