Judge clears Yeung to visit UK football club
Source: Agencies |
August 31, 2011, Wednesday
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Print Edition
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BIRMINGHAM City owner Carson Yeung will be allowed to leave Hong Kong to visit his English club in September after a judge altered bail conditions yesterday relating to money-laundering charges.
The terms of his bail require him to remain in Hong Kong, but a judge granted him a one-time exception so he can travel to the UK from September 15 to 19.
Yeung's lawyer Clive Grossman told Judge Stanley Chan it is "absolutely necessary" for Yeung to meet the team's players, management and fans in person.
The lawyer emphasized: "He is the public face. He is the one who needs to be there, to reassure the players."
Grossman said Yeung is not a flight risk because he has "enormous holdings" in Hong Kong, so it "would just be ridiculous for him to leave them."
Yeung's bail will be doubled to HK$8 million (US$1 million ) until the trip is over.
He was charged in June with five counts of money laundering involving more than HK$720 million. He has not entered a plea and his trial is expected early next year, with a pretrial review scheduled for December 7.
Birmingham's acting chairman Peter Pannu said at the time of Yeung's arrest that the charges, which relate to the period before Yeung bought the club, have no connection with the team or its parent company.
The charges involve sums of money deposited in bank accounts from January 2001 to December 2007.
Yeung was a little-known businessman prior to his takeover of Birmingham. According to local media reports, he has also worked as a hairdresser, invested in a Macau casino and has a stake in a Hong Kong newspaper.
His protracted pursuit of Birmingham ended in October 2009 with a US$130 million takeover.
Yeung owns 26 percent of the club's shares, which have been suspended from trading since he was arrested.
The terms of his bail require him to remain in Hong Kong, but a judge granted him a one-time exception so he can travel to the UK from September 15 to 19.
Yeung's lawyer Clive Grossman told Judge Stanley Chan it is "absolutely necessary" for Yeung to meet the team's players, management and fans in person.
The lawyer emphasized: "He is the public face. He is the one who needs to be there, to reassure the players."
Grossman said Yeung is not a flight risk because he has "enormous holdings" in Hong Kong, so it "would just be ridiculous for him to leave them."
Yeung's bail will be doubled to HK$8 million (US$1 million ) until the trip is over.
He was charged in June with five counts of money laundering involving more than HK$720 million. He has not entered a plea and his trial is expected early next year, with a pretrial review scheduled for December 7.
Birmingham's acting chairman Peter Pannu said at the time of Yeung's arrest that the charges, which relate to the period before Yeung bought the club, have no connection with the team or its parent company.
The charges involve sums of money deposited in bank accounts from January 2001 to December 2007.
Yeung was a little-known businessman prior to his takeover of Birmingham. According to local media reports, he has also worked as a hairdresser, invested in a Macau casino and has a stake in a Hong Kong newspaper.
His protracted pursuit of Birmingham ended in October 2009 with a US$130 million takeover.
Yeung owns 26 percent of the club's shares, which have been suspended from trading since he was arrested.
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