A margin account held by Birmingham City Football Club boss Carson Yeung Ka-sing traded more than half a billion dollars of shares in six months in 2001, a court heard yesterday. Trading statements from Taiwan Securities (Hong Kong) showed the account was in huge use that year, the firm's former employee Lam Hiu-tung said. Lam said Yeung (pictured) was one of the biggest customers with his firm at the time. The trading volume from May to July 2001, and then from October to December, amounted to about HK$588 million, defence counsel Graham Harris SC told the District Court. Yeung is being tried over five counts of money laundering totalling HK$721 million. The offences allegedly took place from January 2001 to December 2007, involving five bank accounts with Wing Lung Bank and HSBC. He denies the charges. For four to five years, Yeung and his father claimed to be earning nothing, but their income later rocketed to HK$721 million in seven years, the court earlier heard as prosecutors detailed the sudden rush of money in and out of their bank accounts. Taiwan Securities was one of 11 securities firms that police investigated, out of 19 such companies identified from Yeung's bank statements. Yeung opened the margin account with the firm in 1999. Most of the transactions took place in 2001, and the balance in the account dropped to zero in 2005, the court heard yesterday. In another of his margin accounts, with Emperor Securities, the total volume of trading exceeded HK$110 million in 2000, 2001, 2002 and 2004, Harris said. The court earlier heard Yeung became an executive director and chairman of Grandtop International, now known as Birmingham International, in July 2007. Grandtop borrowed HK$1.4 million from the Kingston Financial Group to buy English soccer club Birmingham in 2009, and the loans were settled in March 2010. The prosecution said Yeung's reported total taxable income was HK$335,229 in 1997, derived from a hairdressing salon and property rents. He appeared to have suffered from financial hardships between 1999 and 2003 when no income was reported, prosecutors said. The money-laundering trial continues today.