Often Partisan

The Carson Trial – Day 9

Carson Yeung was back in the District Court this morning for the ninth day of his trial into five counts of money laundering.

There hasn’t been much reported on the trial today, with just a short report from Oriental Daily saying that the Prosecution called Pang Tung Choi of Hooray Securities to the stand. Pang confirmed that Carson had opened up an account with his firm on September 3 2001, traded tens of millions of dollars over the next few days to a balance of HK$37million (around £3mil) before withdrawing it all on September 11 2001.

The case has been adjourned until Wednesday May 22, 9:30am (2:30am BST). The trial which was originally set for last November began on April 29 and is scheduled to last 25 days.

Edit 12:20am BST 21/05/13

More has emerged from the day from the print edition of Oriental Daily. Documents were submitted in court (but not read out) from Birmingham International Holdings Ltd as well as Global Asset Management Ltd, a company also directed by Carson Yeung. The prosecution also submitted details of an affidavit signed by a bank clerk with reference to deposits made by Au Yeung Kai Chor and one other.

As the witnesses required are not available tomorrow, the case was adjourned for an extra day.

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36 Responses to “The Carson Trial – Day 9”

  • Gary R says:

    Jesus! Why the hell do they keep missing days of the week…why’s he not in tomorrow??

    • almajir says:

      Cos that’s the way these things work Gary. I don’t know why you keep acting surprised…

  • mark says:

    When does carson defence get in the act to try prove he not guilty?? Dan…….

  • Oldbluenose says:

    Only 16, more ” Trial days ” left to go, ?.

    It will become far more interesting when Carson Young’s defence team reply to the outlined charges, !!

  • jazzzy786 says:

    16 more HK days which is probably 45 UK days.

  • Marky mark says:

    Dan,

    Have you any idea how long they spend in court each day.

    It seems like they come in for an hour and find any excuse to clear off for the day. If they did a days work it would be over by now

  • Tony says:

    Dont forget the adjournment

  • neil says:

    as someone who has done courses on money laundering and worked in the financial services industry someone opening an account with large amounts of money and then withdrawing it shortly after is a key flag for possible money laundering, not sure what the rules are for flagging money laundering over there, but over here that would almost certainly raised questions straight away..mind you paying vastly over the odds for something for no apparent reason is also a key flag for money laundering….. will be very interesting to here carsons defence as to where the money has come from.

    • P'boro Bluenose says:

      An interesting comment and probably says it all. Are we just a wider part of a total money laundering exercise. That’s even more worrying as we are probably a small fish in a large pond

    • Andy says:

      Doesn’t OP state sept 2001 as the account opening and sept 2011 as the withdrawal , that’s 10 years!

      • almajir says:

        typo on my part, should have read September 11 2001.

        corrected now

        • neil says:

          sept 11 2001!!!, thats a pretty important date to be selling loads of shares and closing accounts!!

          • Big Bill says:

            Yes, that was THE 9/11 (in 2001), except that, with Hong Kong time being about 12 hours BEFORE New York time, the account closure was probably done and dusted before the Twin Towers were hit.
            Incidently, sad for me personally on 9/11 as I had stood on the top of one of the Twin Towers during a holiday in New York in July 1976.
            Anyone else been up there?

          • Bluenosesol says:

            11/9/2001 Sad day for me too. It was my 25th wedding anniversary!

          • Pete says:

            Dont think we can pin that oe on him…

          • Yes Big Bill, lived in New York 1981-82 and have stood atop the twin towers on a number of occasions.

    • StaffsBlue says:

      When the money laundering charge first came up, I remember saying to my son that maybe we’ve just heard the reason why Carson Yeung paid £80m for the club. So, if the laundering case is proved, did Sullivan and the Golds receive “dirty” money in exchange for the club? Would they be guilty of anything… like receiving “stolen goods” i.e. money? Probably not, but just a thought.

  • Brian king says:

    if paying vastly over the odds for something for no apparent reason is a key flag for money laundering then all BCFC session ticket holders own laundrettes.

  • Matt says:

    Seems that Hong Kong court days are a bit like human days vs dog years. One of their days feels like 7 years to the rest of us.

    Judge Judy would have had this done in 30 minutes including commercials.

  • Steve-0 says:

    Paying over the odds for something is money burning, not money laundering.

    • Jens says:

      Paying over the odds for something is 1 of the flags for ML, as well as opening the account, large sums going in and out in a short space of time.

      If you have 80m don’t expect to get 80m back via ML… Does not work that way. If you were to get 50m back in clean money happy days.

  • neil says:

    i should add that its not just paying over the odds for something, its selling it too, and thus getting “clean” money,… we can only hope eh!

  • Steve-0 says:

    Interesting Neil. So £80m of dirty money coming out of the Hotpoint as £40m clean may not be a terrible thing. Although not a sustainable ratio it does represent a healthy return, especially if CY isn’t rich at all.

  • StaffsBlue says:

    If, and I say IF, the money laundering is proved to be true, whose was the money that was being laundered? Was it Carson’s, or maybe a bigger group/someone else?

    If it was Carson’s, fine… that may be why they’re holding out for the highest bidder. But what if it was a bigger group’s and they want their money back, wouldn’t they want a quick sale at the highest price?

    Questions questions questions!

    • chas says:

      And would all those Shareholders who got their Pay-Off have to pay it back ? Goninbg to be a hell of a court case.

  • bluenose08 says:

    sullivan knows all about dirty money as he gets it from his dirty mags !!!!


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