Ex-football club owner Carson Yeung warned of jail time in Hong Kong over unpaid debt
Prosecutors have given the former Birmingham City club owner a month to sort his finances after he missed a payment for his HK$338 million debt
Hong Kong prosecutors have told former Birmingham City Football Club owner Carson Yeung Ka-sing to sort out his finances in a month or face jail time after he missed a payment over his HK$338 million (US$43.4 million) debt resulting from his conviction in a money-laundering case 10 years ago.
The prosecutor told the court that Yeung had already paid back the Department of Justice about HK$104 million over the years, during which the parties agreed to extend the repayment period due to the Covid-19 pandemic and other factors.
But in July of this year, he told the department in a written letter that he was unable to make the required payment of HK$19 million, as he could only gather the funds after he managed to sell his property on The Peak.
The property is one of the four residential units at Richmond House on 31 Barker Road, with an area ranging from 3,203 sq ft to 3,845 sq ft.
Prosecutors demanded the court either impose an order to jail Yeung again or set a date for him to return to court to assess whether the businessman could sort out the payment.
It eventually agreed to adjourn the case to October 22 while Yeung sorted out his finances.