John Posted July 1, 2011 Share Posted July 1, 2011 I'm curious as to who owns the other 77%. We own them! Link to comment Share on other sites More sharing options...
Anthony Posted July 1, 2011 VT Supporter Share Posted July 1, 2011 There are more details from the Asia Times: HING KONG - Hairdresser turned tycoon Carson Yeung Ka-sing, the owner of recently relegated English football club Birmingham City, was charged in Hong Kong on Thursday with money laundering to a value of US$93 million. Yeung, 51, entered no plea when he appeared in court wearing a blazer sporting Birmingham City’s logo. Yeung was charged with five counts of dealing in property worth more than HK$721 million (US$93 million) "known or believed to represent proceeds of an indictable offence", according to a charge sheet. The court heard that Yeung operated five bank accounts to make transactions suspected to be involved in money laundering. Two of the accounts were in the name of Yeung’s father. He was released on bail until the next hearing on August 11. Yeung was granted cash bail of HK$4 million, and a cash surety of HK$4 million from Victor Ma, the managing director of Sing Pao newspaper, and Vico Hui, the executive chairman and chief executive of Birmingham International Holdings Ltd (BIHL), which owns Birmingham City. He was ordered to surrender all travel documents and report to the police. Yeung's assets include a HK$400 million house in Hong Kong’s Peak district, the court was told. Yeung was arrested by narcotics bureau investigators at his Peak home on Wednesday. The offences allegedly took place over seven years - from January 2, 2001, to December 31, 2007 - in Hong Kong. The prosecutor asked for Yeung to be remanded in custody, fearing that he would leave Hong Kong, but Daniel Marash, the defendant's lawyer, said the prosecution had failed to provide evidence the money in the bank accounts was from indictable offences. Marash said Yeung is a famous businessman and he and his family are in Hong Kong and he has no reason to flee. Money laundering carries jail sentences of up to 14 years and fines of up to HK$5 million. Trading in Hong Kong-listed BIHL, a professional football operator and entertainment services provider with a market capitalization of about HK$550 million, was suspended on Thursday pending a statement. The shares closed at HK$0.154 on Wednesday, down from HK$0.52 last July. Vico Hui said outside the court that the charges only target Yeung and have nothing to do with the operation of the BIHL or the club. The Football League said in at statement on its website on Thursday that Yeung is assisting police in Hong Kong in relation to criminal investigations being carried out in his homeland. A statement by Birmingham's acting chairman and former Hong Kong policeman Peter Pannu on the club’s website said that at this stage it was believed the case had no connection "to the operation of the parent company [bIHL] or any of its subsidiaries". A hairdresser in his earlier years, Yeung built a single hairdressing salon into a chain of stores, moved into fashion and on to other businesses in China including a coal mine, a gold mine, water supply and a property business. He once told a press conference: "I have so many businesses that I cannot remember how many I [have had.]" A Macau casino was among his interests. The South China Morning Post in 2009 quoted sources as saying Yeung made a significant profit dealing in shares of A-Max Holdings, which bought a 49.9% stake in Macau's Greek Mythology casino in March 2006. In June 2007, Hong Kong's Ming Pao newspaper reported that Yeung was part owner of Greek Mythology. Yeung entered the Hong Kong exchange record books with a 2007 investment in Grandtop International, a small loss-making apparel firm, paying HK$65.66 million for a 16.67% controlling stake. In the same year, he made his first, and failed, bid for Birmingham City. He was more successful in 2009, paying HK$731 million to acquire 94% of the shares of the English Midlands club through Grandtop International, which was later renamed Birmingham International Holdings Ltd. Among Yeung’s other interests, he is a major shareholder of the Sing Pao Daily News after emerging in 2008 as a white knight investor in an ailing Hong Kong newspaper group, SMI Publishing Group. Editor-in-chief Ngai Kai-kwong said Yeung is seldom involved in the editorial and business operations. Birmingham City this year beat the much more fancied and famous Arsenal 2-1 to win the League Cup at London’s Wembley Stadium on February 27 - Yeung’s 51st birthday - ending a 48-year run without a trophy. By the end of the season, however, the club was relegated from the top-flight Premier League, which means a loss of broadcasting fees and possible loss of marketing deals. The club was dealt a further blow two weeks ago, when manager Alex McLeish left to take over at Premier League side Aston Villa. In March, Yeung pledged his private properties to lenders in a bid to raise funds for the club, whose liabilities exceed its assets by HK$348 million, according to a BIHL statement. In April, he increased his personal stake in the club to 24.9% after acquiring 315 million BIHL shares, according to a statement to the Hong Kong Stock Exchange at the time. In 2004, Yeung was reprimanded by Hong Kong Securities and Futures Commission (SFC) for failing to disclose his holdings in Cedar Base Electronic (Group), now known as China Water Affairs Group. The securities watchdog found that he held 25% of Cedar Base on June 1, 2001, and on four other occasions had interests consisting of more than 20% of the firm. He pleaded guilty and was fined HK$43,000 and ordered to pay the SFC's investigation costs of HK$7,398. Olivia Chung is a senior Asia Times Online reporter. Link to comment Share on other sites More sharing options...
SonicVillan Posted July 2, 2011 Share Posted July 2, 2011 Not sure if this has already been posted, but why on earth is there a 'Birmingham City & Newcastle United Fan Page' on facebook? It looks pretty embarrassing: Some highlights: Whats everyones thought on a shared stadium for Newcastle United and Birmingham City...? This was only an idea from someone so no moaning please. newcastel fan! and i just wanna say how plr[pleased I am] hughton at birmingam and seeing as i support the toon; I HATE ASTON VILLA !! We're all the villa, haters!! WE HATE VILLA, WE HATE VILLA!! I HATE VILLA MORE THAN YOU !!! aha http://tiny.cc/z290q Link to comment Share on other sites More sharing options...
rjw63 Posted July 2, 2011 Author Share Posted July 2, 2011 Jawdee fucktards Link to comment Share on other sites More sharing options...
TheDon Posted July 2, 2011 Share Posted July 2, 2011 Probably because we sent the Geordie words removed down. Link to comment Share on other sites More sharing options...
bigandyd Posted July 2, 2011 Share Posted July 2, 2011 They truly are the gift that keeps on giving. We may think that things get bad for us but then they manage to do something much, much worse. Link to comment Share on other sites More sharing options...
villadude Posted July 3, 2011 Share Posted July 3, 2011 I'm thrilled that their shitty little club's ****. It's taken the heat away from us appointing AM etc, the noses I work with have been very quiet since this happened. Link to comment Share on other sites More sharing options...
ChrisNichollsToe Posted July 3, 2011 Share Posted July 3, 2011 I'm thrilled that their shitty little club's ****. It's taken the heat away from us appointing AM etc, the noses I work with have been very quiet since this happened. Although im has happy as you, i keep pondering how corrupt are the people that run our game, in allowing shysters like Yeung to buy into our game. There was always question marks about him that would of sent normal people a few alarm bells. Football in this country is being run by a bunch of buffoons that make Blatter look like a Nun :oops: Link to comment Share on other sites More sharing options...
mjmooney Posted July 4, 2011 VT Supporter Share Posted July 4, 2011 Just bumping this thread, as it had slipped disgracefully low. I want more sha comedy ! Link to comment Share on other sites More sharing options...
wiganvillain Posted July 4, 2011 Share Posted July 4, 2011 OK Mike, Peter Pan has stated (after a visit to convict 99) in Hong kong that Mr Yeung intends being at the first home game of the season which is just under a week prior to the court case for which he is currently on bail and had to surrender his passport. A neat trick if it can be managed Link to comment Share on other sites More sharing options...
ChrisNichollsToe Posted July 4, 2011 Share Posted July 4, 2011 Just bumping this thread, as it had slipped disgracefully low. I want more sha comedy ! Just for you! Link to comment Share on other sites More sharing options...
Jimzk5 Posted July 4, 2011 Share Posted July 4, 2011 after seeing pictures of carson yeung, i cant help but think his the love child of..... + = Link to comment Share on other sites More sharing options...
NeilS Posted July 4, 2011 Share Posted July 4, 2011 Probably because we sent the Geordie words removed down. I think you're right, from reading some message boards before we played them last season, they seemed to have taken extra offence to the "Who's your next Messiah? Ant or Dec?" Banner that was unfurled at the match that saw them relegated. Link to comment Share on other sites More sharing options...
TrentVilla Posted July 4, 2011 Moderator Share Posted July 4, 2011 Yeah I think they got exception to that because they suddenly realised that Ant of Dec would have been a better choice than Alan Shearer! Anyway, lets get back to laughing at Small Heath surely they have done something today of mirth? Link to comment Share on other sites More sharing options...
Anthony Posted July 4, 2011 VT Supporter Share Posted July 4, 2011 Trent! Small Heath is a place; small heath is an alleged football team. Needless to say the capitals in this thread title always irk me. Link to comment Share on other sites More sharing options...
TrentVilla Posted July 4, 2011 Moderator Share Posted July 4, 2011 I'm fully aware that Small Heath is a place being from Birmingham. However I'm talking about the football club Small Heath rather than the new name they like to be called which is correct (if you forget that it is sadly no longer their name) Link to comment Share on other sites More sharing options...
meregreen Posted July 4, 2011 Share Posted July 4, 2011 I'm fully aware that Small Heath is a place being from Birmingham. However I'm talking about the football club Small Heath rather than the new name they like to be called which is correct (if you forget that it is sadly no longer their name) For some of us it will ALWAYS be their name. Link to comment Share on other sites More sharing options...
Anthony Posted July 4, 2011 VT Supporter Share Posted July 4, 2011 I just can't bring myself to use capital letters with their name. Link to comment Share on other sites More sharing options...
rjw63 Posted July 4, 2011 Author Share Posted July 4, 2011 I just can't bring myself to use capital letters with their name. Nor me, never have never will Link to comment Share on other sites More sharing options...
islingtonclaret Posted July 4, 2011 Share Posted July 4, 2011 I'm fully aware that Small Heath is a place being from Birmingham. However I'm talking about the football club Small Heath rather than the new name they like to be called which is correct (if you forget that it is sadly no longer their name) I think we should rename the club to 'Aston Birmingham FC' as proposed by a member of Birmingham City Council several years ago. After all, it must be us that has to rename ourselves, surely, as another club nearby have the naming rights to the city and foreigners might get confused as to who we are. By the way, just for the record, I **** hate the council. Link to comment Share on other sites More sharing options...
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