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| Carson Yeung discussion; Please read before starting new thread | |
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| Tweet Topic Started: Jun 29 2011, 04:32 PM (8,187 Views) | |
| bnm | Jun 29 2011, 06:47 PM Post #76 |
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Frank Worthington
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So am i, So am i and i have put up with this tripe for 48 years and feel enough is enough now. |
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| Trueblood | Jun 29 2011, 06:47 PM Post #77 |
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Kenny Burns
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Of course he is innocent till proven guilty. Reuters reporting that http://www.reuters.com/article/2011/06/29/...E7HT2VB20110629 In a statement, Hong Kong police said the man arrested had been charged with five counts of "dealing with property known or believed to represent proceeds of an indictable offence" and added that he was being held in police custody. "The arrested person has been charged with five counts of "Dealing with property known or believed to represent proceeds of an indictable offence" and is detained in police custody. He will appear in Eastern Magistracy tomorrow (Thursday) . Active police investigation is underway." Other reports saying these charges relate to before he bought Birmingham City What this may mean "dealing with property known or believed to represent proceeds of an indictable offence" from hong Kong Law site http://www.legislation.gov.hk/blis_ind.nsf...D7?OpenDocument PART V MISCELLANEOUS (1) Subject to section 25A, a person commits an offence if, knowing or having reasonable grounds to believe that any property in whole or in part directly or indirectly represents any person's proceeds of an indictable offence, he deals with that property. (2) In proceedings against a person for an offence under subsection (1), it is a defence to prove that- (a) he intended to disclose to an authorized officer such knowledge, suspicion or matter as is mentioned in section 25A(1) in relation to the act in contravention of subsection (1) concerned; and (b there is reasonable excuse for his failure to make disclosure in accordance with section 25A(2). (3) A person who commits an offence under subsection (1) is liable- (a) on conviction upon indictment to a fine of $5000000 and to imprisonment for 14 years; or (b on summary conviction to a fine of $500000 and to imprisonment for 3 years. (4) In this section and section 25A, references to an indictable offence include a reference to conduct which would constitute an indictable offence if it had occurred in Hong Kong. |
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| tiltontrev | Jun 29 2011, 06:50 PM Post #78 |
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Keep Right On...
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Posted Image BCFC - Rolling with the Triads Yeahhhh!!! |
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| Bluebeatle | Jun 29 2011, 06:53 PM Post #79 |
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Steve Claridge
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:LMAO: |
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| stevio11 | Jun 29 2011, 06:59 PM Post #80 |
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Alex Govan
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If Carson is in court tomorrowthen we will have to wait for Mr Pannu to get the correct details before informing everyone he has to. Does he have to inform the football league and what would their reaction be. |
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| bnm | Jun 29 2011, 07:04 PM Post #81 |
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Frank Worthington
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Just my opinion but i think this will have massive implications for our club if CY is proved guilty. |
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| blueblood | Jun 29 2011, 07:07 PM Post #82 |
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Johnny Vincent
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BIH is a separate entity to what is being investigated as far as I can gather? Or is that not the case? We should be ok. *fingerscrossed* |
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| bluebel | Jun 29 2011, 07:11 PM Post #83 |
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Geoff Horsfield
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I think we might find it could be to do with 'purchasing' of the property in China that everyone hailed as a brilliant way forward for BIH to make money :LMAO: One aspect of money laundering, is where a person (or Company) move money around to give the impression of having a lot more money than they actually have, mmmmmm........that doesn't sound like Yeung at all :rolleyes: Still, I'm sure we can put(keep) all our trust and faith in Pannu :rolleyes: KRO |
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| Trueblood | Jun 29 2011, 07:12 PM Post #84 |
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Kenny Burns
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Depends if Carson's assets become involved in any way due to these charges and the aftermath, I would imagine |
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| .Jake | Jun 29 2011, 07:13 PM Post #85 |
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Nikola Zigic
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This is why you need to add Jeffrey Au on Facebook, he is up to date with all the Chinese press and stuff. :) |
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| bluebel | Jun 29 2011, 07:13 PM Post #86 |
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Geoff Horsfield
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Well that is what Pannu has said. If you trust Pannu, then you can rest happy. Or, if you delve further, who knows what you may find out! KRO |
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| blueblood | Jun 29 2011, 07:16 PM Post #87 |
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Johnny Vincent
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I just trust the fact we mere fans can do nothing. Sit back and watch the show folks. |
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| bnm | Jun 29 2011, 07:19 PM Post #88 |
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Frank Worthington
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I dont think that is the case Blueblood, and sorry to disagree again but the bottom line is as the Major share holder of BCFC he has to be able to show the leauge he has the funds in place to meet his liability`s for the comming Season, How can he do this if he should be found guilty and fined what repots are saying. |
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| Bluebeatle | Jun 29 2011, 07:20 PM Post #89 |
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Steve Claridge
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never heard of that, I thought laundering was simply that, making dirty money clean.. eg covering the tracks of where it came from? |
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| blueblood | Jun 29 2011, 07:22 PM Post #90 |
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Johnny Vincent
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Don't worry, I was asking a question and just being hopeful **thumbup It really does make you wonder what this vetting process for new club owners actually entails. |
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| Trueblood | Jun 29 2011, 07:26 PM Post #91 |
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Kenny Burns
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Somebody like Mohamed bin Hammam should buy us out imho |
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| Prawnman | Jun 29 2011, 07:29 PM Post #92 |
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Paul Tait
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The most worrying thing for me, all theory of course, is that the shares looks as if they have already taken a dive, it could....in theory....completely collapse very quickly. |
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| bluebel | Jun 29 2011, 07:36 PM Post #93 |
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Geoff Horsfield
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That may seem bad news on the surface, but for us, and the future of Blues, it could be a good thing. The lower the share price, the lower the value of BIH, and the cheaper it becomes for someone else to buy. Simples :) KRO |
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| bnm | Jun 29 2011, 07:40 PM Post #94 |
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Frank Worthington
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**thumbup , I think it means more since the Portsmouth debacle and i just get the feeling they were chaseing us up for this proof quite recently, also they wont want to be put in the same delima as they were put in with Portsmoth, so it seems to me they are clamping down a bit especially with oversea owners. |
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| garyinash04 | Jun 29 2011, 07:45 PM Post #95 |
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Steve Claridge
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I think the situation looks dire. Looks increasingly like there are no funds available to support the running of the business, a fire sale of players looks to be on the cards. Best we can hope for is that the owners can find a buyer, sell and cut their losses. Personally, I believe the previous owners knew what was in store when they sold, I think they were well aware that they had sold for an inflated price to someone who did not fully understand what he was committing to. I think Mssrs Sullivan and Gold took the money and ran, without the slightest concerns for the people that really matter, ie the supporters. It's all about money these days - and we ain't got any now. |
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| Prawnman | Jun 29 2011, 07:48 PM Post #96 |
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Paul Tait
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Well I'm not sure about that, say for example a random fictional company goes under and can't repay it debts as its shares have are now worthless. Administrators will strip the company of every asset that is in its name to repay the funds, so if you have a fancy car in the companies name with a nice stereo, they will rip the stereo out. Or if an asset has borrowings against (like a mortgage on ya house), the bank will repossess the house and flog everything inside it until it gets its money back. Then when its a shell they will sell the house itself. Or like you said, if someone wants to buy the company before administration then that is an option, but they would have to buy it with all its liability's. Question is, as a business person do you buy a company that has debts that far out weighing its assets.....or do you wait til you can go to an auction and buy the bit you want on the cheap? |
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| Trueblood | Jun 29 2011, 07:50 PM Post #97 |
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Kenny Burns
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The Standard (Hong Kong newspaper) report big monies about 5 million pounds involved in investigation and documents taken from BIH offices http://www.thestandard.com.hk/news_detail....r=20110630&fc=4 Cops cry foul play Staff reporters Thursday, June 30, 2011 After facing police questions about alleged money laundering involving hundreds of millions of dollars, football- loving tycoon Carson Yeung Ka-sing was charged and in custody late last night. A brief statement mentioned that charges involved five counts of dealing with property known or believed to represent proceeds of an indictable offense. He will appear at Eastern Magistrates' Court today. The statement also said Narcotics Bureau officers searched two locations - one on Hong Kong Island and the other in Kowloon - and seized documents. Sources said earlier that police had launched an investigation two years ago into at least HK$600 million in cash and securities from unidentified sources being deposited in a bank account. Police arrived at Yeung's home on The Peak at about 10am yesterday. About two hours later Yeung emerged from his Barker Road residence with two plainclothes officers and was driven to The Peak police station. His lawyer arrived about 15 minutes later. Then, at around 2pm, Yeung was taken to police headquarters in Wan Chai. Meanwhile, several officers were at the offices of Birmingham International at the Shun Tak Centre in Sheung Wan. They left with an assortment of documents. Yeung, 51, runs Hong Kong-listed Birmingham International Holdings. The company controls English football club Birmingham City, which has just ended a season marked by a glorious high and then a stunning low. Yeung bought Birmingham City FC in 2009 after a first bid in 2007 failed to prosper. It was one of the high points in a business life that has seen Yeung rise from a hairdressing salon operator to a tycoon. From a single salon he went on to forge a chain, move into fashion and clothing and then on to other businesses, including gaming in Macau and various pursuits in the mainland. He also has interests in firms registered in the Cayman Islands and the British Virgin Islands. In an interview with British newspaper The Independent last year, Yeung remarked: "I'm the first man from Asia, from mainland China, to get involved [in British football]." That, he added, would give him "a head start" marketing Birmingham City in Asia. The football business certainly appeared to be going well earlier this year. For Birmingham City went to the world-famous Wembley Stadium on February 27 - Yeung's birthday - and beat powerhouse club Arsenal 2-1 to win the English League Cup, ending a 48-year run without a trophy. But then in May came relegation from the top-flight Premier League - a fall that means a huge reduction in the financial flow for the club, particularly from broadcasting and marketing deals. Among Yeung's other current interests, he is a major shareholder of the Sing Pao Daily News. But editor-in-chief Ngai Kai-kwong said last night that he is not aware of Yeung being involved in a police investigation. Also, he said, Yeung is seldom involved in the editorial and business operations. And Birmingham International financial controller Fung Ka-ki said the company is not ready to offer any comment for now. Those convicted of money laundering may be jailed for up to 14 years and fined HK$5 million. |
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| bnm | Jun 29 2011, 07:53 PM Post #98 |
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Frank Worthington
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If this is as it apears to be then we are in it up to our ears imo. |
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| wardendblue | Jun 29 2011, 07:54 PM Post #99 |
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Olivier Tebily
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someone who echoes my thoughts .the previous board knew that yeung and co wasnt right for blues didnt have the finances but still sold to them all because thay got 80million..now we no why the 12 months before it didnt go through because yeung didnt have the money raised and asked for another 12months to raise the cash thats why sullivan /gold threw there dummy out the pram becuse thay had to stay another 12months..what thay should have done is tell yeung to do 1 and sell to another buyer with sufficiant funds not just sellout to yeung and sell us down the river ...well thanks sullivan /gold this your leaving presant to blues is it . ******* |
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| blues-girl | Jun 29 2011, 08:00 PM Post #100 |
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Christophe Dugarry
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Any one else thinking of watching house of commons live incase JOHN HEMMING decides to make any comments and reveal all again like he did with Giggs xx |
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8:44 AM Jul 11