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Carson Yeung discussion; Please read before starting new thread
Topic Started: Jun 29 2011, 04:32 PM (8,184 Views)
lowdham bluenose
Joe Bradford
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Prawnman
Jun 29 2011, 06:46 PM
Has Eck gone yet?

Ah, something to cheer me up. :drink: :dancer: :ball: :lager:
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lowdham bluenose
Joe Bradford
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bluebel
Jun 29 2011, 08:11 PM
Trueblood
Jun 29 2011, 07:47 PM
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.

Due to appear in court Thursday

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.

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

Bluebel, your opinions and critique of Yeung is up there rivaling mine of McLeish.

**thumbup well done
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lowdham bluenose
Joe Bradford
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Jmackay
Jun 30 2011, 06:46 AM

TalkSport reported that, but I didn't want to post it..............Brazil probably thinks it's something to do with a farm.
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lowdham bluenose
Joe Bradford
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Bluebird
Jun 30 2011, 05:44 AM
Quote:
 
Blue Raphealite Posted on Jun 30 2011, 04:13 AM

With Grandtop ( the buying agency that Bluebird is obsesed with) it might be, but they are history, approved and disgarded by the HKE. A dead company. So they can't freeze those assets.


How did I get involved in this? :o :blink: :(

:LMAO:
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thetoot
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Frank Worthington
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Bluebird
Jun 30 2011, 04:44 AM
Quote:
 
Blue Raphealite Posted on Jun 30 2011, 04:13 AM

With Grandtop ( the buying agency that Bluebird is obsesed with) it might be, but they are history, approved and disgarded by the HKE. A dead company. So they can't freeze those assets.


How did I get involved in this? :o :blink: :(

Wrong place, wrong time...like Carson!

:P
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Trueblood
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Kenny Burns
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New Reuters reports with some new facts about Carsons bail conditions and his wealth

If the report is right that makes him worth about £150 million Uk pounds (If his wealth includes what he paid for Birmingham seems over 50% of it was used to purchase Blues)

Sounds like they have taken his passport off him and he has to report 3 times a week as part of his bail conditions, so he won't be over here anytime soon. So it will be up to Mr Pannu to steady the ship over here

Reuters[/URL

Jun 30 (Reuters) - Hong Kong hairdresser-turned-tycoon Carson Yeung, who hit the headlines when he bought English soccer club Birmingham city two years ago, is in the news again -- this time being charged in a Hong Kong district court for money laundering.

The 51-year-old businessman, who having spent time in Britain as a teenager started off on the road to riches as a hairdresser in Hong Kong's bustling Tsim Sha Tsui shopping belt, was held overnight in police custody.

On Thursday, he was charged with five counts of "dealing with property known or believed to represent proceeds of an indictable offence" totalling some HK$721 million ($92.6 million), according to a statement by the Hong Kong magistrate court.

Yeung showed up in court on Thursday morning in a dark suit and peach-coloured shirt and was ordered to have his passport confiscated.

He was released on bail of HK$7 million, with HK$4 million from himself and the remaining split between two of his associates .

The tycoon remained silent throughout his court appearance and spoke only once to request that he be allowed to present himself at a particular police station in Central district when the court ordered him to report to police three times a week.

The magnate turned heads in 2009 when he put down HK$1.2 billion to become Birmingham's single-largest shareholder.

The following year he was seen standing alongside senior Communist Party officials during a friendly between Birmingham and a Chinese team in Beijing's "birds nest" stadium.

During the Birmingham buyout, Yeung famously said he wanted to turn the English club into "a Chinese-English soccer club".

Yeung showed his business acumen early on when he opened his own hair salon in 1994, but had his fingers burnt when Hong Kong's property boom went bust three years later, soon after he had invested in two apartments and nearly a dozen parking lots.

Yeung was undeterred, however, and struck his first big pot of gold when he teamed up in 2004 with Ng Man Sun, the founder of Macau's Greek Mythology luxury casino, to bet on Macau casino stocks.

Yeung, whose wealth is estimated at HK$1.86 billion, is now also a major shareholder and chairman of Sing Pao daily news - a Chinese-language Hong Kong newspaper he saved with a HK$60 million bailout loan in 2008 when it ran into financial difficulty.

Seen as a "very generous person" by acquaintances, Yeung lives with his partner and two children in a 6,000 square-foot mansion in Hong Kong's rarefied Peak district.

Among his fleet of cars is a HK$6 million Maybach.

($1 = HK$7.783)

(Reporting by Donny Kwok and Kelvin Soh; Writing by Tan Ee Lyn; Editing by Ossian Shine; To comment on this story email sportsfeedback@thomsonreuters.com)]
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PartisanBCFC
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Jack Wiseman
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http://www.skysports.com/story/0,19528,11694_7010809,00.html


Looks like tax evasion according to CY's lawyer and Sky

Al Capone went to Alcatraz for that you know


:silence:
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fatlad
Malcom Page
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IF carson Yeung gets sent down for Money Laundering does he still own the club

silly question i know but curious as to what would haven to the club if he was serving time.

all hypothetical questions peeps

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PartisanBCFC
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Jack Wiseman
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fatlad
Jun 30 2011, 02:50 AM
IF carson Yeung gets sent down for Money Laundering does he still own the club

silly question i know but curious as to what would haven to the club if he was serving time.

all hypothetical questions peeps

Marlon King might be an expert on that matter


:silence:
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Prawnman
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Paul Tait
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One thing for sure, if China didn't know about us they sure do now! This could be the worlds greatest PR stunt! :LOL:
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onlybluesandhorses
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Peter Enckelman
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Have been checking the legal stuff on this, and seems if he is found guilty and charged, even though not all this is connected with Birmingham City FC, the club will not be able to be sold while charges are made.
Also a transfer embargo can be inforced

This looks very bad for the club, no matter what Pannu says in his statement that this will not effect the club, as it will due to yeung being the owner.

Very bad times ahead I fear
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Prawnman
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Paul Tait
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onlybluesandhorses
Jun 30 2011, 07:27 AM
Have been checking the legal stuff on this, and seems if he is found guilty and charged, even though not all this is connected with Birmingham City FC, the club will not be able to be sold while charges are made.
Also a transfer embargo can be inforced

This looks very bad for the club, no matter what Pannu says in his statement that this will not effect the club, as it will due to yeung being the owner.

Very bad times ahead I fear

Well we better buy a load of players today then.
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Trueblood
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Kenny Burns
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onlybluesandhorses
Jun 30 2011, 07:27 AM
Have been checking the legal stuff on this, and seems if he is found guilty and charged, even though not all this is connected with Birmingham City FC, the club will not be able to be sold while charges are made.
Also a transfer embargo can be inforced

This looks very bad for the club, no matter what Pannu says in his statement that this will not effect the club, as it will due to yeung being the owner.

Very bad times ahead I fear

Does a transfer embargo affect buying of players only, or the selling as well?

If both we could have a stronger team for this season then?

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lowdham bluenose
Joe Bradford
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onlybluesandhorses
Jun 30 2011, 08:27 AM
Have been checking the legal stuff on this, and seems if he is found guilty and charged, even though not all this is connected with Birmingham City FC, the club will not be able to be sold while charges are made.
Also a transfer embargo can be inforced

This looks very bad for the club, no matter what Pannu says in his statement that this will not effect the club, as it will due to yeung being the owner.

Very bad times ahead I fear

Lets have the court case today to fiond him guilty................that will **** on Gardner's chips and his move to Sunderland.
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Prawnman
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Paul Tait
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lowdham bluenose
Jun 30 2011, 07:38 AM
onlybluesandhorses
Jun 30 2011, 08:27 AM
Have been checking the legal stuff on this, and seems if he is found guilty and charged, even though not all this is connected with Birmingham City FC, the club will not be able to be sold while charges are made.
Also a transfer embargo can be inforced

This looks very bad for the club, no matter what Pannu says in his statement that this will not effect the club, as it will due to yeung being the owner.

Very bad times ahead I fear

Lets have the court case today to fiond him guilty................that will **** on Gardner's chips and his move to Sunderland.

I can see Johnson's agent on the phone to Wolves in a panic as we speak.
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jassyblue80
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Trevor Francis
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Prawnman
Jun 30 2011, 07:09 AM
One thing for sure, if China didn't know about us they sure do now! This could be the worlds greatest PR stunt! :LOL:

my dad is away at the moment and can only get bbc world news and eusro sport news, and he has said there is nothing being reported on either!!
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Prawnman
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Paul Tait
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jassyblue80
Jun 30 2011, 08:04 AM
Prawnman
Jun 30 2011, 07:09 AM
One thing for sure, if China didn't know about us they sure do now! This could be the worlds greatest PR stunt!  :LOL:

my dad is away at the moment and can only get bbc world news and eusro sport news, and he has said there is nothing being reported on either!!

Maybe not then! :LMAO: Gord we are useless at everything!
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Prawnman
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Paul Tait
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Trueblood
Jun 30 2011, 07:37 AM
onlybluesandhorses
Jun 30 2011, 07:27 AM
Have been checking the legal stuff on this, and seems if he is found guilty and charged, even though not all this is connected with Birmingham City FC, the club will not be able to be sold while charges are made.
Also a transfer embargo can be inforced

This looks very bad for the club, no matter what Pannu says in his statement that this will not effect the club, as it will due to yeung being the owner.

Very bad times ahead I fear

Does a transfer embargo affect buying of players only, or the selling as well?

If both we could have a stronger team for this season then?

Hong Kong-listed Birmingham International Holdings is operating normally, and the charges against Yeung are a “personal issue,” Vico Hui, chief executive officer of the company, told reporters in Hong Kong today.

http://www.bloomberg.com/news/2011-06-29/b...-club-says.html
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onlybluesandhorses
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Peter Enckelman
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Trueblood
Jun 30 2011, 07:37 AM
onlybluesandhorses
Jun 30 2011, 07:27 AM
Have been checking the legal stuff on this, and seems if he is found guilty and charged, even though not all this is connected with Birmingham City FC, the club will not be able to be sold while charges are made.
Also a transfer embargo can be inforced

This looks very bad for the club, no matter what Pannu says in his statement that this will not effect the club, as it will due to yeung being the owner.

Very bad times ahead I fear

Does a transfer embargo affect buying of players only, or the selling as well?

If both we could have a stronger team for this season then?

Players can be sold
But the club itself will not be able to take in any players, this of course if he he found guilty
This will include free tranfers. and loans that require the club paying the players wages
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beegeeblueboy
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Bob Latchford
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The 'fit and proper' test is not perpetual so you cannot be 'unfit', I
believe.
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beegeeblueboy
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Bob Latchford
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onlybluesandhorses
Jun 30 2011, 07:27 AM
Have been checking the legal stuff on this, and seems if he is found guilty and charged, even though not all this is connected with Birmingham City FC, the club will not be able to be sold while charges are made.
Also a transfer embargo can be inforced

This looks very bad for the club, no matter what Pannu says in his statement that this will not effect the club, as it will due to yeung being the owner.

Very bad times ahead I fear

CY is not the owner
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homerpaul
Paul Devlin
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please remember, he does not own the club, bih own the club, carson does not own bih, he is only the largest shareholder with 26%, so even if he was jailed it would not have an effect on the club as his asset is not the club it is the 26% of bih which would either sold or controlled by the state so the fine, if there was one, could be paid.
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bluebirdy
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birdyblue
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PartisanBCFC
Jun 30 2011, 06:47 AM
http://www.skysports.com/story/0,19528,11694_7010809,00.html


Looks like tax evasion according to CY's lawyer and Sky

Al Capone went to Alcatraz for that you know


:silence:

Still think people are over reacting then parti?...

if your absolutely calm with everything going on then I'm amazed

During this farce we need someone to come forward from the club and make some calming statement but unfortunately even Pannu won't put his name to an 'he's innocent' statement

This speaks volumes about Pannu's full knowledge of Yeungs wheeling and dealings

That scares me


Kro
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NO1BLUENOSE
Peter Enckelman
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homerpaul
Jun 30 2011, 09:50 AM
please remember, he does not own the club, bih own the club, carson does not own bih, he is only the largest shareholder with 26%, so even if he was jailed it would not have an effect on the club as his asset is not the club it is the 26% of bih which would either sold or controlled by the state so the fine, if there was one, could be paid.

I didn't even think he owned that much anymore. Isn't it less than 10% now?
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Des
Malcom Page
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When sully and Karen were under investigation, no charges were ever brought. This seems totally different, once charged a court case has to take place to decide guilt! I would expect an FA statement within days!

KRO
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