Often Partisan

Verdict Analysis

With Carson Yeung convicted on five counts of money laundering here in Hong Kong many people are asking what now? As the verdict has now been heard I am no longer bound by reporting restrictions as to commenting on and analysing what was said in court and as such I can try to put together what I think and I know.

What did the Judge actually say in those 112 pages?

I have paper copies of the transcript of all 669 paragraphs read out in court and for obvious reasons I’m not going to recount it all. The verdict should be available in full online soon on the Hong Kong judiciary website and when it is I will link it here on the site.

What the judge had to do was to sum up the evidence was heard in court, note any case law that was applicable and then give his interpretation if evidence was truthful or not and how it affects his rulings on the verdicts of the five counts of money laundering. Before I go into that, I think it’s important to refresh people’s memories as to what the charges are.

Carson was charged with knowing or having to reason to believe that he dealt with property that represented the proceeds of an indictable offence. The prosecution based their case on the second limb – that a reasonable man would have reasonable doubt as to the where the money that was deposited in Carson’s account came from. It’s also worth noting the conviction rate for cases like this in Hong Kong – which I am told is in excess of 95% – in short, the law is draconian and the charges are almost impossible to beat.

It was the judge’s opinion that Carson lied when giving evidence; that he could not remember facts any reasonable person would have expected him to remember and that the lack of documentation surrounding his dealings in shares etc was to obfuscate what really happened – ie to conceal the origins of money coming into his account and as such displayed the hallmarks of money laundering.

What specific deals did it concern?

Without wanting to go into too much detail – it’s pretty complex and difficult to sum up succinctly, the case centered around two share deals – for shares in a company called Gold Wo and a company called Kanstar; ten deposits made from SJM, who had the casino monopoly in Macau; an investment in the Neptune Group (a listed company in HK) and Neptune VIP Room (a VIP gambling room in a Macau casino) and an investment in a film made by Abba Chan Tat-chee.

These deals were all between 2001 and 2007. In all bar the film deal Carson was found to have lied when giving his evidence, to have concealed the truth as to the true nature of the deals and to have contradicted his own expert witnesses. The Judge accepted that Carson had indeed invested in the film as it was backed up by evidence that came out in a very late stage of prosecution.

So it doesn’t involve the club?

That’s the tricky bit. Paragraph 625 states

One example is the use of the $36.422 million which was paid to Prince Evans solicitors in the UK. Mr Pulvirenti stated in his report that the money was for the purchase of Birmingham City FC while the defendant said it was for the purchase of a property in London. The defendant’s evidence was that he had never told Mr Pulvirenti about the use of the money. Given that one of the grounds put forward by the defence as to the unlikelihood that the defendant would be doing such a high profile purchase of an English premiere [sic] league football club if he was engaged in money laundering, the purchase of the football club must have been one of the main concerns of the defendant’s expert and it is inconceivable that he did not ask the defendant about it. It is even more inconceivable that Mr Pulvirenti would make up the fact that the money to the solicitors was for the purchase of the football club without anyone instructing him that it was so.

My inferrence from that is that Carson wasn’t telling the truth when he said the money that was put into the account at Prince Evans was to buy the house in London, and that his expert witness Mr Pulvirenti was when he said it was to buy the club. Bearing in mind it was stated in court this money came from a payment made into the accounts by alleged triad leader Cheung Chi Tai and you can immediately see the issue at hand.

Having seen Mr Pannu’s statement today I think behooves him to make some sort of further statement confirming that the money that went to Prince Evans wasn’t used to buy the club.

I’d also make note that in an announcement to the stock exchange made on October 21, BIH said

There were a total of 86 Known Transactions between the Company and Mr. Yeung during the Relevant Period. Total receipts from and payments to Mr. Yeung amounted to HK$166 million and HK$161 million respectively. There were another 14 Known Transactions between BCFC and Mr. Yeung, in the sum of GBP15 million (or HK$188 million), during the Relevant Period. Based on the documents and information available for SHINEWING’s review, a number of features and patterns in general in respect of the Known Transactions during the Relevant Period were noted, amongst others, for funds allegedly received from Mr. Yeung, most of them were remitted from third parties, and a general lack of documentation within the Company showing the reasons behind or arrangement between Mr. Yeung and funds paid to and received from third parties. While Board minutes and letters of instruction from Mr. Yeung were prepared for legal, statutory and compliance requirements; at the same time, there was lack of documentation on the commercial and ancillary aspects of the transfer of funds via/to/from third parties.

The key words in that statement are money remitted from third parties and a lack of documentation – both things that bear the hallmarks of money laundering. For example, Judge Yau stated in his verdict in paragraph 595

…I find it extremely strange that someone of the defendant’s standing with such business acumen and being so experienced in share dealings would take part in such a massive transaction just on a verbal basis with no documents. I find that the only irresistible inference why the dealings were conducted on a verbal basis was so that there were no records kept and that dealings could be concealed.

and in paragraph 599

Furthermore, the material time to consider was when the money was being deposited into the defendant’s bank account. It is for the court to consider whether a right thinking member of the community, even after being told that it was okay to receive the money would still consider that there was reasonable grounds to believe that the money represented proceeds from an indictable offence.

The fact that Carson was convicted of money laundering would mean that we can infer that the court decided that having third parties placing money into an account, without documentation is money laundering.

With the debt novated the debt is now no longer on BCFC but I would seek reassurances from Mr Pannu that the club will not face prosecution for potentially receiving “funny money”.

Are the league going to do anything about it?

The short answer to that is no. The FL have released a statement that they are currently happy with things as Carson isn’t a director of BCFC nor owns more than 30%.

However, the FL do have discretionary powers to act if they believe a person is acting with the authority of a director (a “shadow director”) or is acting in concert with other shareholders that would take them over the 30% barrier then they can treat that person as if they were an owner or director.

It is my belief that the placement of Carson’s son Ryan Yeung Tsz-tsung and his brother-in-law Victor Ma Shui-cheong on the BCFC board means he maintains a proxy on the board. It is also my belief based on the way Carson has acted since the purchase of the club by Grandtop in 2009 and the fact that Carson’s maximum shareholding in the holding company is 28% that Carson does indeed either work in concert with other shareholders or acts as if he owns 30% or more of the holding company. It’s my belief that the FL have decided not to act as it could cost them financially in legal fees to prove their case and in effect that they have “bottled it”. I would go as far to say that I think if fans want the club to be sold pressure needs to be put on the FL to act.

For the moment, nothing is likely to change. Despite Carson starting a stretch inside prison, he still owns 16.20% of the holding company and at the moment there is nothing that can change that. Whether that position changes in the next few weeks and months, I have no idea.

Tags: ,

103 Responses to “Verdict Analysis”

  • Timmy says:

    There’s a lot to take in there — thanks for covering in such detail for us all. It doesn’t look like anything will happen very soon, as you have been predicting all along.

    Do you think the way forward for us fans is to let the FL know that we want them to take action, as Yeung still exerts effective control?

  • john kelly says:

    has he any assets beside bcfc if the courts decide to levy fines and compensation orders against him ?

  • Quokkasskip says:

    Dan, good summary and enjoy HK.

    Do you have an email address for the FL? Or is the trust starting a petition?

    • almajir says:

      Don’t know on both counts Quokka – but I’m sure they’ll pick up on it. They know where I am if they need me.

  • The Francis Fake says:

    Great work Dan. If there is no intent shown by BIH to sell the club I think that that a vigorous campaign should be launched at the Football league to act. It has always been clear that Carson has had almost total control over the football club even though has always remained a minority shareholder. CY’s family and cohorts either holding shares or directorships. The shareholdings have always been deliberately structured to avoid certain responsibilities on CY individually.

  • steve says:

    Be nice to know what the Carson supporters think.They’ve been pretty quiet today.

    • chas says:

      I haven’t been quiet, I have posted on the other Post. I seem to remember Cases in this Country, The B’ham 6, the Jill Dando Murder and others where the Judge was just as derogatory towards the Accused but it all got turned round. Nothing is finished yet, there is still the Appeal. What more do you want me to say ?
      By the way. On BBC Midland News today , they showed the Press Conference when he took over, according to the Sub-titles, Yeung stated that there would be between £20 -£40 Million Pounds made available for Signings AND wages, so he didn’t let anyone down there .Just thought I would let you know .

  • bluenoseb says:

    How you feeling towards carson today dan? still feel a bit sorry for him. Money laundering c*nt has got what he deserves, and me personally will have a nice drink tonight in the thought hes rotting in cell sum where. KRO, u got what you deserve and long may it continue. 3years u ripped blues apart so double that for your sentence ent nearly enough. Hairdressers in a prison watch that soap pal!

    • almajir says:

      I’m not a vitriolic person mate, I don’t delight in other’s misery. I also remember that with Carson in charge we won a trophy and I got to see Blues in Europe three times.

      • bluenoseb says:

        You right mate we did win a trophy ‘under’ his ownership of the club, was he in the changing room picking the team and tactics for final or the games in europe? I believe that should mainly fall at the feet of the players and management at the time same as the relegation does. And it was the same season that we were in europe that we also sold anyone worth over a million in the championship to rip the club apart due to no money or investment/

        Truthfully I dont normally delight in other peoples misery but when Ive supported blues for over 20 years and followed through the good and the bad times and today be the day that the person responsible for our truly shocking and embarrasing demise for the past 3 years is made to pay then im sorry its a good f*cking day! Before it was allegations now its fact if that makes me a bad person for what hes done then tough sh*t hope you rot you little pr*ck!!

      • blue says:

        didn’t he als bring the ladies team back into the fold?

    • geoff smith says:

      BCFC cannot hope to move on with this mob in charge and I strongly agree that Yeung, Pannu and the rest of their shadowy mates must have maximum pressure put on them to sell up but how can homophobic remarks help here?

  • zuludave says:

    Hi Dan, you’re well connected can you liase with relevant groups to arrange petitions we can sign at home games or online to present to the FL?

  • mark says:

    Never quiet Steve like yourself I believe carson will return with appeal, Daniel spoken quite openly about either side would be making challenges to the verdict. Never over until the fat lady stop sings……..carson still king of his castle…..wheels within wheels will be turning know doubt…….

    • almajir says:

      Mark – what do you make of the judges assertion hes a habitual liar?

      • chas says:

        As I said earlier, Judges always say that when giving their Verdict, doesnt mean they are right.

      • mark says:

        As chas quite rightly pointed daniel in the judge opinion……..he is… maybe appeal judge may not you take your pick……..

        • bluearmyfaction says:

          Judges do not often go so far as to say someone is an habitual liar. That’s tantamount to saying someone has committed perjury. They’d much rather prefer to say that they had convinced themselves their recollection was the truth or some other euphemism.

          Any appeal would only be on law. An appeal court is not going to interfere with the judge’s findings of fact. The judge saying Yeung is an habitual liar is a finding of fact.

          • chas says:

            BlueArmy, I am afraid you are mistaken if you think that what one Judge says at the Trial is necessarily taken into account by future Judges. You only have to look at some of the Cases over the last few years where the Sentencing Judge has made comments only for the new Judge to completely dismiss his arguments.

          • almajir says:

            Chas

            For the record, I was in court on quite a few days and I heard most of Carson’s evidence. I agree with the judge, I think he was right in what he said.

            You were not in court and are reliant on reports. It’s very very very hard to make a judgement on second and third hand information.

          • chas says:

            I didn’t need to be in Court to know that what One Judge says is necessarily what another Judge will say ,I was referring to other Cases, not CY’s Case. Who knows what another Judge might make of the same evidence.

    • steve says:

      Why are you such an admirer Mark? I may be wrong, but isn’t this judge the top one in the country?He said that CY was making it up as he went along.

      • mark says:

        Sorry so no -one can have a different opinion steve , yes I quite like the man………and I certainly don’t bear no hatred to him either.

        • steve says:

          Cause you can have an opinion.Remember that when you have a go at the fans that don’t like Clark.

          • mark says:

            but steve i take like a man and dont split my blind hatred out……..why not about our fans………… carson, ziggy, clark, home fans the list could go on and on.
            Paul has always put a reasonable argument about the fans turn out at the stans………..like others we agreed with him. and some dont ………….but in reality if a fan does not want to go whats up to them……………but i am sorry to say putting that aside their are fans on here who will used the tiniest excuse not to go and watch their beloved blues…………maybe if you got time get your head around that one kidda………………..kro……………please dont take the hump if dont like the opinion……….because i dont………….

          • mark says:

            but steve i take like a man and dont split my blind hatred out……..why not about our fans………… carson, ziggy, clark, home fans the list could go on and on.
            Paul has always put a reasonable argument about the fans turn out at the stans………..like others we agreed with him. and some dont ………….but in reality if a fan does not want to go whats up to them……………but i am sorry to say putting that aside their are fans on here who will used the tiniest excuse not to go and watch their beloved blues…………maybe if you got time get your head around that one kidda………………..kro……………please dont take the hump if dont like the opinion……….because i dont………….

  • Knowle Blues says:

    Well done Dan. Superb reporting again. Hopefully we are starting to turn the corner.

  • Bluenosemase says:

    Great work Dan, many thanks for keeping us informed.

  • bluearmyfaction says:

    What happens if another club asks the FL to take action? Whoever is 3rd from bottom surely has nothing to lose in asking the League to investigate whether there is a shadow directorship. It almost certainly wouldn’t affect the league position, but it would have a knock-on effect.

    As it is, under basic English contract law, there is a presumption against an intent to create legal relations in intra-family dealings. The FL could simply rely on the relationships speaking for themselves as making it more likely than not that Yeung has shadow directorships, and forcing BIHL to disprove the FL’s contention.

  • Tom says:

    How on earth can the FL not act on this. We are still being run by him through him being majority shareholder and having friends and family on the board. What an absolute farce! Imagine if this was Manchester United!

  • BhamCityJulian says:

    In my mind being charged didn’t mean he was guilty even though vastly overpaying for BCFC was an indication. I was therefore in the camp that the charges may just have been unjustified therefore he deserved to given that doubt. Now he is convicted it is a different kettle of fish

  • Mickey07 says:

    Through gritted teeth dan…..fantastic work…eye opening and very very sobering…

    • almajir says:

      Thanks Mickey. Want to make a difference? Get onto the league

      • Mario says:

        Dan thanks for all you have done. Do you know peter pannus email? I intend to copy him into my email to the football league. Btw Tom Ross your reading this get involved with the football league we can do this!!!

  • fingles says:

    Great work Dan, thanks for the info and analysis.

  • tony tra phooey says:

    Will he be granted bail to appeal?
    I dont think this club will be sold for many years to come. I can predict a painful season ahead after this one, with no onfield investment relegation is a certainty

  • Andy says:

    Fantastic summary, so as fans wanting our club free of BIHLs grip we are to petition the FL, and continue to protest against the board
    Neither wanting the publicity of course but it’s clear if we do nothing then neither will budge

  • Jonathan says:

    Thank you for keeping us up to speed,about what it actually all means,very articulate and erudite,maybe now the club can be sold,although the waters remain very murky,today has to be good news for the Blues KRO

  • Sir Harry 1875 says:

    If the FL ever exercise their discretion and ‘act’ , how will they act? What will they do?

    • StaffsBlue says:

      Headline on the BM site tonight, is that the FL will take NO further action against Yeung.

      Pussies!

      • steve says:

        Is it because we’re not in danger of administration this season? The thing is,if he’s no longer on our board,what can they do ?

        • StaffsBlue says:

          No… simply because he’d already resigned. What a cop out.

          • steve says:

            They don’t want to have to admit that their fit and proper test is a waste of time do they ?

          • StaffsBlue says:

            Apparently, at the FL’s discretion they could investigate further if it is thought someone is acting as a ‘shadow’ director or is acting in concert with other shareholders that takes them over 30 per cent ownership of a club. But, the fact that Blues board comprises of Yeung’s son, Ryan, his brother-in-law Victor Ma, future brother-in-law Panos Pavlakis and Peter Pannu is not of concern to them.

            Well it bloody well is to us! Clowns.

          • mark says:

            Carson definitely not stupid people around him would have advised him, he definitely got people to aid this. He followed protocol of the re-listing by stepping down both posts knowing he could not be touch now that’s a touchdown on both accounts. Football league would look come completely stupid getting involved with that’s effectively been sorted just my opinion.

  • BluesBlues says:

    Let the protest continue – Delay No More

    Looking forward to Saturday hope the big flag will be ready all we need is miore supporters in the ground it’s up to us now to force these crooks out our club.

    KRO . DNM

  • rhees says:

    Again thanks Dan for honest factual reporting.
    Unfortunately i don’t believe the FL have any balls and are toothless.
    we will be ignored asusual, like always being last match on MOD.
    I fear that todays verdict wont make any difference to the clubs future.
    i pray in being negertive and admit i have no real knowledge on the subject
    just ill feeling.

  • steve says:

    Why are you such an admirer Mark? The judge said he was making it up as he went along.I may be wrong but isn’t this judge the top one in the country.

    • steve says:

      sorry,repeat question. technology is the most.

      • Ali Duncan says:

        An answer I’d love to read him answer. In denial that lad.

        • mark says:

          Why would I be in denial ?? Sadly you are mistake please explain to me what changed hang on minute I will back I will just put the kettle on sorry I thought so absolutely nothing……. In denial lol

  • erpa says:

    Dan, Firstly thanks for the updates and the reports you have done over the whole of this rotten affair, My thoughts on the FL announcement tonight is, i think there is a obscure point they are making that no one seems to have cottoned onto. They say they are not concerned how we are being run as they are satisfied we are financially sound to the seasons end. Now I take that to mean, they may well take a different view when this campaign ends . Also they will not rock the boat with only a dozen or so games to go, they will want to get the season completed at all costs and rightly so as the main requirement from the club is prove they are able to complete its fixtures and we have presumably shown we can do that. So I believe we must do as you (Dan) suggests and keep as much pressure on the FL and make them aware of all our worries (educate them) Petition them so they know we are fully aware of what we expect from them. But imho Nothing can or will be done at this stage of the season and things might just happen at the seasons end. Also Dan you spoke very well on the Tom Ross show, if only Ross had of stopped butting in all the time, he would do well to listen and learn but he can`t stop chipping in. Bless. I think you must suffer from insomnia as well. Hope you have slept well you deserve to.

    • Big Bill says:

      Anyone got a link to a recording (podcast or whatever) of Monday Evening’s “The Goal Zone” with Tom Ross on Free Radio?

  • NeilM says:

    It will now be interesting to see whether the HK PPS look to charge him with additional charges post 2007, especially as there was some inferring of potential additional issues by the judge in his judgement, as you posted in your article.

    I would assume they would have to await the out come of any appeals though.

    I’m not sure what the future will hold, but getting from the grips of BIHL is a must to move forward, but I’m not sure how that is going to happen.

  • BigmanSteve0 says:

    Carson is guilty why judge did say so………it’s a statistical reminder of the world we live in…..duh due dereh

  • Free The Hong Kong One he says:

    I can’t see how the purchase of Blues cannot be investigated as potentially it’s a crime.

    I can’t see how the club can be sold if the possibility of it being bought with laundered money exits.

    Convicted drug dealers can be stripped of their assets does the same apply to convicted money launderers?

    Dan help!

  • Dave says:

    Carson knew the game was up when he sold his shares last month. But what really bugs me about this news is the fact that you have to dig really deep to find it on the BBC Football site and a story about Charlton Athletic selling players to Belgium is given more gravitas!!! Like the title of the BBC2 programme currently airing it’s London vs The Rest. Nothing exists outside of London according to the national media, unless it’s in the little pocket of the north west called Manchesterpool!

  • Jim says:

    Can’t see the FL doing much. An idea for any lawyers in the forum to comment is to determine if this whole mess was brought to the attention of the National Crime Agency or SOCA at the time or now. Anyone not implicated is clear but if employees and directors has suspicions of money laundering did not report it they have committed an offence under Proceeds of Crime Act. The NCA can investigate offences in the UK i.e. financial transaction in UK companies and non reporting of money laundering suspicions. I guess freedom of information requests from the FCA would determine if the UK financial institutions reported any suspicions Seymour Pierce/BDO Stoy Hayward/ and perhaps even Shore Capital who was advising Golds/Sully. If any offences took place in the UK (or at all) I guess the assets recovered could be assigned to HM Govt…then a sale process. No implication of guilt of course and I’m sure the advisers did their diligence oh I must up my Christmas tip to the hairdresser to the normal market rate of £millions. Well done to OP.

    • bluearmyfaction says:

      They let Abramovich in despite it being well-known at the time he made his money in rigged auctions – something which he has since admitted on oath but which the Premier League has not even looked at. It was probably put through on the nod as Chelsea have friends in high places.

    • SW16girl says:

      the HK police and the UK force still have reasonable links remaining from colonial days. If there was anything that could be done I am sure they will have been in touch in such a high profile matter. However one of the reasons why it may not have been done is that it is possible that BCFC has been considered to be of very little value once any debts have been taken into account..

  • Adebola66 says:

    Now that the case is over its time to look back at how Carson Yeung got involved with the Blues in the first place. Remember he did not appear to have the financial clout to buy the Blues outright when he first aquired a minority shareholding and if I recall accurately Sullivan and Gold made him sit without a seat on the board until he came back some 12 months later to complete the sale. Me and my mates said at the time that this bloke has not got the money to take us anywhere as he would have brought the club outright if he had the financial assets to do so . We then find out that he alledgedly paid well over the odds and if you recall Peter Pannu got in a spat with Sullivan and Gold in the press about financial transparency following the sale . Isnt the onus on the purchaser to carry out due diligence I thought at the time. It never added up to me and I knew this would end in tears. I was never one of the anti Sullivan/Gold brigade but accept a large segment of the fans had enough of them by the time they left. I do believe however unless we get a very rich owner in the future history will look kind on Sullivan and Gold who helped us get into the Prem and backed our managers with some good uns like Benno Grainger The Horse Dugarry Forssell Laziridis and many others. Lets hope that today is a turning point at least. I always wondered if Steve Bruce knew that something wasnt quite right as he left as I recall at the time the sale went through .

  • andy says:

    After reading Pannu’s statement about our beloved club, I don’t think BIHL have any intention of selling and the hope is for investment. Coventry fans have protested over their owners, Sisu, and it has got them nowhere.

    • chas says:

      It has , Andy. It has got them to Northampton. Blues Fans had the best Board in G@S that they have ever had and the Fans were too thin skinned to be true. The behavior of a lot of the Fans was a disgrace and they should hold their heads in shame and accept some of the Blame for all that has happened by driving G’S out. A lot will never be happy, whoever is in charge.

      • mark says:

        in full agreement with chas regarding your comments…. the abuse sullivan took at the stans along with his children is indescribable if any fan found that funny they are not human-beings…………..imo

  • Shirley Blue says:

    Well done Dan. Listened to your discussion with Tom Ross in the car on the way home from work and you explained it all very well especially as it was 2am in HK. It does all sound a god awful mess in terms of any new owners coming in to buy the club. I can’t see any reputable potential buyers coming anywhere near it – who would want to get involved with these people out of choice.

    The protest at the ground recently has been very effective in raising awareness of the situation over there but what is clear it is futile putting any more pressure on Carson to sell. All efforts now need to be diverted to put pressure on the FL now with maximum exposure in the UK media.

  • steve says:

    Hi Dan, what can writing to and what can the FL do ?
    BCFC is owned by the holding company and carson holds a small percentage in it.

    He may have shadows there with no other influence than the 16 odd percent he or they own, so if the FL under pressure agree this is unproper what about the other 84 percent stake holders who own the club legitemately through buying shares on the HKSE a bonafide instituition.
    Question, Bih own birmingham not yeung and BIH are not in the dock and never will be so they own it untill they choose to sell fact ??
    Would apreciate your expert opinion on this please

  • Chris W says:

    Once again you excel in bring a very complex court case and conclusion to a level everyone can understand.
    Many questions remain unanswered and a whole new ball game could evolve. Importantly was any laundered money used in or towards the purchase of BCFC, if so can anyone force the sale of BCFC, can the previous owners be held accountable and where exactly does it leave BCFC?
    The Football League can do something but wont because of financial reasons, is there anyway that pressure can be put on them to act? It will give them and their “Fit and Proper” test some credibility and show future purchasers of football clubs that they have to follow a code of practice and ensure this sort of thing from happening again.
    Football ownership is fast becoming a joke and communities are the only ones to suffer, look at Cardiff, Portsmouth, Leeds and now us, simply a toy to those with money but to others it is their life and soul.
    KRO+DNM

  • Blue tsunami says:

    Fantastic job Dan. Thank you very much. If I want to know what’s going on I look to you and hope the ongoing development of the trust, in parallel with your good work, will see pressure on the FL to actually do something.
    It appears that further investigations driven from HK courts may expose financial irregularities in the purchase of the club. Would these open up the possibility of legal action from the UK?

  • DoctorD says:

    Great blog today Dan — one of you best yet. You must be knackered — get yourself some kip.

    So the next step is to wait till Friday to see what sentence Yeung will get.

    What the Football League needs to answer is:
    a) how much influence has Yeung really got given that his brother in the law is the new chairman, that he still owns 16% of shares and that Yeung was in the BIHL offices recently, as Dan reported?
    b) what are the consequences if (if) laundered money was used to buy BCFC?

  • Jim says:

    Ask the FL if they have any suspicions of money laundering at Birmingham City Plc or its subsidiaries. If they say yes they must report to NCA then something might happen. They may say no but it’s on the record. If they blank it’s on the record so a PR disaster if anything inappropriate gone on. Difficult for us on the outside with no commercial relationship with the parties to contact NCA on suspicions which we can’t substantiate.

  • steve says:

    Rumour has it lerners selling villa for 150 mil plus

  • Martin D says:

    Dan, how Yeung has been convicted, surely the prosecutor can ask the court for a confiscation order or forfeiture order to recover his proceeds of crime?
    Carson could be forced to sell his assets including his BCFC stake to repay the £55m?
    Martin

  • geoff smith says:

    Haven’t we had enough of rumours, Steve?

  • mark says:

    It goes without saying well-done with your hard work you did clear a link from me which was from the bm with your input on hearing not sure why but that’s your progative mate………..

  • eric says:

    Thanx for filling us in on this complex journey. Good luck with book.

  • Big Bill says:

    Now here is a late night thought for you all to ponder upon.
    What if the Football League prove that laundered money was used to purchase Blues in 2009 and so they do a “Lance Armstrong” on us and take our “Titles” away from us (just one there then, The League Cup in 2011)

  • Agent McLeish says:

    The FL stance stinks. CY who is now a convict is clearly acting in concert with other shareholders. The FL should be challenged as to why they are no upholding their own regulations. I’ll be writing to the minister of sport to point this matter out.

  • Richard Granfield says:

    As I understand it CY’s personal assets were frozen in June 2011. I wonder what happens to those assets now!

    • Ali Duncan says:

      I would imagine he was allowed to dip into them to pay for his defence so he’s probably spent a small fortune on his legal team.

  • Asif ashiq says:

    Imo i can see the football league burying their heads in the sand

    • blueroy says:

      the FL has already washed their hands of this, probably because CY passed the fit and proper criteria for the premier league. and agreeing with Dan in his interview on the goalzone last night…they have bottled it. the FL will in all probability be watching the take over at Leeds United very closely now.
      great job done Dan, thanks for everything so far! can’t wait to read the book! KRO

  • Eamon C says:

    Well done Dan great job.
    Is there a way for the supporters to challenge the LF on their decision not to take action as CY appears to be a controlling interest in the club ?

  • Steve H says:

    Good article in todays Financial Times. Shows how dodgy ALL their ‘business’ dealings are. They cannot be trusted. And of course he will continue to pull the strings besides the bleatings of lapdog PP.

  • ShardBlue says:

    So there is a suspicion that laundered money was used to buy BCFC
    We are led to believe that BCFC is the only reason BIHL shares were allowed to be re listed on the HKSE
    Is the HKSE happy with this?Will they look into this now that the trial documents have come to light?
    It seems the HKSE listing is important to BIHL,should we be kicking up a fuss in that direction?or would it make things worse if they lost the share listing again?
    Any thoughts Daniel?

  • jack1 says:

    I see OP and BM looked into the relationship with BDO as auditor. BDO must be regretting the work it did on the takeover so it could be a good time to ask if they reported any money laundering concerns to NCA (they can’t answer as it amounts to tipping off but if you publish the letter you sent in the BM it’ll get a response). What does BDO mean when it wasn’t receiving all the information for its incomplete audit? Does this extend beyond the CY transactions into other funders? It is not too late for them to make a report to NCA if there were suspicions. Also worth a letter to the current auditors JH CPA Alliance Ltd if they have any concerns. If Birmingham City plc can be shown to have suffered losses or asset transfers perhaps there might be a solution to bring this to a quicker conclusion in the UK rather than via HK. Dunno if will work but worth a Billy Wright blast

  • Blackcountryblues says:

    What with the kumars and now c/y Been watching blues since 1964 and i have never been so frustrated when all i wanna see is my team playing well all you get is soap opera come back phil summerhill freddy pickering trevor hockey and yes even clifford coombes please

  • […] the dust settled I’ve had some time to think about the whole saga. Yesterday I published my analysis of the verdict and amongst other things gave interviews to Central News and The Goalzone. What strikes me is that […]

  • Bluenosesol says:

    Lots of references to the appeals. Would that be 5 appeals???

  • phillip says:

    Ine thing that has become clear from this result via the tv news coverage last night, Yeungs investment in a “Mongolian Fertiliser” company,,,,,at least now we know where all the bullshit came from !

  • Stephen says:

    Thanks for all your reporting over the last couple of years Dan, after this it just seems we will remain in the hands of BIHL untill they have access to other forms of cash from different ventures then maybe sell us when there is nothing left to take.


Personalised Gifts for a Bluenose
Haircuts and League Cups
Open Tax Services
Corporate Solutions UK
PJ Planning
Rodal Heating

Archives