Often Partisan

The Carson Trial – Day 7

Further details of Carson Yeung’s share trading activities emerged in the District Court today as Carson’s trial on five counts of money laundering entered its seventh day.

South China Morning Post reports that Lam Hiu-tung, a representative of Taiwan Securities confirmed to the court that Carson had HKD588million (approx £50mil) of trade in a six month period in 2001, making him one of the biggest customers within the firm at that time. Taiwan Securities were one of 11 firms investigated by HK police out of 19 that appeared on Carson’s bank statements for the period in question.

According to Hong Kong Daily News Lam also confirmed to the court that to his recollection Carson gave his occupation as chairman of a research firm with a HK$5mil annual salary (approx £400k) when he opened the account in 1999

The defence counsel Graham Harris SC also confirmed that Carson traded more than HKD110mil (approx £10mil) of volume in 2000, 2001, 2002 and 2004 with another firm, Empire Securities.

This all comes in spite of Carson reporting zero earnings to the HK tax authorities between 1999 and 2003.

The trial resumes at 2:30am BST Thursday 16 May  (9:30am HK time)

Tags: ,

50 Responses to “The Carson Trial – Day 7”

  • Gary R says:

    Almajir, I know it’s early days, but the signs suggest that Carson is already losing the battle. Would that be your interpretation?

    • almajir says:

      As the case is in court I have to be careful on what I say, but on what I’ve seen I can’t see anything but a guilty verdict.

      • Kaje says:

        I’d agree there, the case certainly appears to have a bleak outlook for him.

      • Gary R says:

        Appreciate that, Almajir. Hmm, not looking good for him!

      • Steve-0 says:

        All I’ve taken from these reports is that financial transactions and business exchanges have taken place. Obviously what happens in full cant be reported, but I would imagine the court would the full picture to surface first.

        I’m not challenging your view, I just don’t see the context that suggests a verdict yet from what I have read.

        • mark says:

          Equally not heard from carson defense…..still some more twists and turns yet…….imo

      • mark says:

        I am surprised you mentioned guilty dan without hearing what carson defense might say. Furthermore dan is there a chance you might return to hk for maybe the last few days of carson trial???

        • almajir says:

          Mark

          With money laundering trials, the tactical onus is on the defence to prove innocence – something that the defence SC said on the opening day. I honestly cannot see how Carson can do that.

          As for going back to HK, I’d love to but it’s down to money…

  • utbb says:

    So im guessing he will have to change his name to mary soon?

  • crotcher88 says:

    thanks for the work you do and nice to see lee clark not taking a rest getting down to buisness straight away lets hope it all comes together for next season kro

  • Oldbluenose says:

    I presume that it is the prosecution that has sway for the opening of the trial, ?.

    Carson Yueng’s defence, Will be the interestig part of the trial, !!.

  • dazabcfc says:

    What have Wigan and Yeung got in common… yes you probably guessed, they’re both going down!!

  • Atahualpa is a BlueNose says:

    Either CY thought he was “untouchable” or was extremely “careless” with what he was attempting. Unless he can show with proper evidence where the money came from legitimately, it really looks like he is done for. Even then he will more than likely be done for tax evasion. The only thing he may have to fall back on, Is how much of all this was his old man’s responsibility??

  • Mark Y says:

    Is it that the HK authorities have is that they have not received the level of tax that thet are entitled to whilst CY built up his business interests.or are they more concerned about the mysterious source of the funds that passed through his bank accounts. If its is a tax issue could CY get off the hook if he were to somehow make a settlement that they accept, or has is gone too far for such an outcome.I would appreciate Ajamajirs view.

    • almajir says:

      My understanding is that they are using the lack of reporting of income to show that Carson wasn’t rich and the money wasn’t his. There are very definite concerns as to where the funding has come from and that was outlined in the Prosecution’s opening argument.

  • BhamCityJulian says:

    Under England and Wales law you are or are not given leave to appeal. Perhaps it’s the same in HK?

  • Ted says:

    Of course, you expect the prosecution to have a case. This stage of the trial is all about presenting the evidence of his guilt. What kind of prosecutor would make him appear ‘not guilty’ at this point in time?

    Let’s wait and see what the defence has to say. It may not be the ‘open & shut’ case that people imagine.

    And personally, I’m not at all convinced that CY’s conviction is the best outcome for BCFC or its supporters.

    KRO

  • Marky mark says:

    Something just doesn’t smell right!

    CY not a stupid man, with the countries history of money laundering cases you would expect him to be a bit more careful where and how he deposited money if it was dirty?

    The whole case rests on where CY aquired the monies from and can he prove it

    I thought the prosecution would have to prove its dirty not him prove its clean?

    • Steve-0 says:

      I would imagine having a plausible story explaining how you came into possession of a huge amount of money is a key part of your defence. Although the prosecution have a job to do in proving their case, the defence surely has to show evidence to the contrary. Sitting there and saying “prove it” isn’t going to get you very far.

  • Mark Y says:

    I do think though that tax evasion is part of the issue though and not just money laundering.

  • StevieW says:

    Either way even if Carson does go down PP is now well enthroned at the helm so from a Bluenose point of view nothing changes, the same regime is still in charge just one of them has gone on holiday if found guilty.

    Also there are 2 sides to every story and at present we are only really getting the one side, so I feel we need to wait for the defence to tell theirs before we start assuming possible guilt. Heaven help the criminal who might get some of you guys on a jury.

  • Brian king says:

    Almajir

    If Carson wasn’t rich and the money wasn’t his, who’s was it and would it follow that whatever the money purchased would belong to whoever the money belongs to. The next question is the core of the this apple was the money used to pay for BCFC and do we assume mob money.

    Sorry about the American TV slang I.e. mob

  • Steve-0 says:

    A Premiership Football Club is a decent “launderette” isn’t it?

  • Masaccio says:

    It isn’t over until the judge makes the ruling….

  • minehead blue says:

    Does the HK legal system allow for change of plea and deals? Anddo you think CY might horsetrade ?

  • kopite says:

    The first part of any trial is the prosecution putting their case first and presenting their witnesses. That is the stage CY trial is at, therefore it will look bleak at this point. When the prosecution has finished the defence will have a chance to put their case and it may look very differnt at that time.

    To summarise CY’s position it looks like he has not had good accountants advice because he can’t realistically have traded the numbers the prosecution are alleging and had zero earnings in the same period. Best case scenario for him is either guilty of money laundering or tax evasion, it’s not realistic that he can be not guilty of both.

    So if he’s acquitted at this trial, he’ll probably be back to face tax evasion charges.

  • Tony says:

    Carson reported zero earnings, for the period in question that was just not true.

  • DoctorD says:

    Carson Yeung’s finances look pretty complicated — hardly surprising then that Pannu’s affairs are equally confusing too. All that “pocket expenses” and consultancy fees.

  • dave mann says:

    ive been saying all along tht carson yeung never had any personal
    wealth in the first place, he borrowed or laundered the money to
    buy blues.
    hes going to be found guilty by all accounts and even if he does
    get off, he has not got the wealth to carry on owning blues.

    i no its going to be difficult to get new owners in, but this guy
    has got to go and us as proper blue noses should make a stand
    and demonstrate to the hilt that we want this organisation out off
    our club ASAP.KRO.

  • Bluenosesol says:

    If we cant find a couple of hundred grand to buy Caddis, then my optimism has taken a hit!

    • AuldBertie says:

      Very true. You’d expect there to be some money available after Davies is offloaded.

    • Agent McLeish says:

      Can’t spend any more money as we need to to fund PP’s wage/consultancy fees.

  • mark says:

    Very disappointed we could not sign caddis but thats life…….

  • Phill W says:

    I agree with Ted in a way. I would love to see CY go down and yet I do not feel that this would be in the clubs best interest. We could still be in this position in 12 months time if he appeals. Maybe best to get a not guilty and then get some mony into club.

    • almajir says:

      unfortunately, it’s not about the club’s best interests – it’s about what’s right from a justice angle.

  • bluenose08 says:

    Why didnt carson just say it was his consulting fee from peter pannu !!!


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

Archives