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Birmingham owner Carson Yeung resigns as president & director of Brum
Covered End
Posts: 52,216
This might be a bit of a downer for Brum for Saturday's game :-
Birmingham owner Carson Yeung has resigned from his role as president and director of the club as he awaits the verdict in his money laundering trial in Hong Kong.
The Sky Bet Championship side's holding company announced to the Hong Kong Stock Exchange that the 53-year-old had quit his directorships and now "holds no positions in the group".
"Yeung resigned to devote more time to his other personal commitments," said Birmingham International Holdings.
Yeung has been standing trial on five counts of money laundering involving more than £57m deposited in five bank accounts from 2001 to 2007.
Prosecutors claim the money was "criminal proceeds," and a verdict on the case is due on 28 February.
The charges bear no relation to Birmingham, which Yeung bought in 2009 for £81.5m.
Birmingham's 2011 Carling Cup success ended 48 years without a major trophy but the club were relegated from the Premier League the same year.
Cheung Shing, already an executive director at St Andrew's, has been appointed chairman.
Birmingham, who sit 18th in the Championship after losing three of their last four league games, face Charlton at The Valley on Saturday.
Birmingham owner Carson Yeung has resigned from his role as president and director of the club as he awaits the verdict in his money laundering trial in Hong Kong.
The Sky Bet Championship side's holding company announced to the Hong Kong Stock Exchange that the 53-year-old had quit his directorships and now "holds no positions in the group".
"Yeung resigned to devote more time to his other personal commitments," said Birmingham International Holdings.
Yeung has been standing trial on five counts of money laundering involving more than £57m deposited in five bank accounts from 2001 to 2007.
Prosecutors claim the money was "criminal proceeds," and a verdict on the case is due on 28 February.
The charges bear no relation to Birmingham, which Yeung bought in 2009 for £81.5m.
Birmingham's 2011 Carling Cup success ended 48 years without a major trophy but the club were relegated from the Premier League the same year.
Cheung Shing, already an executive director at St Andrew's, has been appointed chairman.
Birmingham, who sit 18th in the Championship after losing three of their last four league games, face Charlton at The Valley on Saturday.
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Comments
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Thought we were playing sunday against another team.0
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So they were financed with dodgy money! No sanction for that I suppose given that Yeung has resigned!0
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How did he get passed the FA's fit and proper test?0
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Look at the date of the OP.charltonkeston said:Thought we were playing sunday against another team.
He didn't have to - it's a Football League Fit & Proper Test. It's here if you want a browse: football-league.co.uk/regulations/20130704/appendix-3_2293633_2128209Valley McMoist said:How did he get passed the FA's fit and proper test?
Frankly it's pretty weak anyway. Okay, so there's all that stuff about involvement with other clubs, bankruptcy, IVAs, unspent convictions, etc, etc. But it seems that it doesn't matter whether or not you a very naughty boy - as long as you haven't been caught and convicted yet. A quick skim through the regs seems to indicate that they will stamp down on you very hard indeed if you've hacked a sky box to watch a televised football match without paying but they couldn't care less whether you have obtained billions through corrupt operations and money laundering!1 -
Dropped em a few quid in a brown envelopeValley McMoist said:How did he get passed the FA's fit and proper test?
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Does this mean administration and a subsequent 10 point deduction if the owners money stops coming through ?0
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6 years inside0
