Former Birmingham City Football Club owner Carson Yeung Ka-sing has been given a month to resolve his financial issues or face imprisonment after failing to make a key debt repayment linked to a decade-old money-laundering conviction.
Hong Kong prosecutors issued the ultimatum during a hearing in the High Court on Tuesday, following Yeung’s failure to meet a HK$19 million (£1.86 million) payment on his outstanding HK$338 million (£33.2 million) debt.
Yeung, 64, was convicted of laundering HK$721 million (£70.6 million) in 2014 and sentenced to six years in prison. After serving his time, he was ordered in 2017 to repay half of the total laundered amount. Over the years, Yeung has made payments totalling approximately HK$104 million (£10.9 milliom) but has struggled to meet the full restitution, particularly as the COVID-19 pandemic brought delays and economic strain.
The former football club owner admitted in July that he had missed the latest payment, attributing the shortfall to delays in selling a luxury residential property. The asset, a high-end unit at Richmond House on Barker Road in The Peak—one of Hong Kong’s most prestigious and expensive addresses—has yet to be sold, which has significantly impacted Yeung’s ability to meet his financial obligations.
During the court proceedings, prosecutors emphasised that Yeung had been given multiple opportunities to settle his debts, and warned that failure to address the issue within the next month could result in further legal consequences, including potential jail time. Yeung’s legal team sought leniency, explaining that efforts to sell the Barker Road property were ongoing, but they acknowledged the challenges in Hong Kong’s high-end property market.
The luxury property is one of four units in Richmond House, ranging in size from 3,203 to 3,845 square feet. Its opulence stands as a reminder of Yeung’s once lavish lifestyle, a stark contrast to the legal and financial troubles he now faces. Despite his attempts to offload the asset, market conditions have slowed the process, leaving Yeung unable to meet his financial obligations to the Department of Justice.
Yeung’s conviction in 2014 sent shockwaves through Hong Kong’s business and football communities. He had become the owner of Birmingham City in 2009, a tenure that was marked by both highs, including the club’s League Cup win in 2011, and significant controversy, as questions about his finances persisted. His money-laundering conviction ultimately overshadowed his achievements in football and led to his downfall.
Prosecutors made it clear that Yeung’s time to resolve his financial obligations is running out, with no further extensions likely to be granted. If he fails to make the necessary payment or find a solution within the next month, Yeung could be facing a return to jail. The High Court will review the case at the end of the month to assess his progress.
The case continues to be a high-profile reminder of the serious consequences of financial misconduct and money laundering, with Yeung’s past prominence in both Hong Kong’s business world and English football adding to the public interest.
Writer’s View
For Blues fans, the Carson Yeung saga feels like a distant, dark chapter in the club’s history, and there’s certainly a collective sigh of relief that he’s no longer involved with the club. His ownership brought instability and uncertainty, overshadowed by the legal and financial troubles that eventually led to his downfall. While the 2011 League Cup win was a moment of joy, it was soon followed by relegation and years of turbulence, with many supporters worried about the future of the club under his leadership.
Now, with Yeung facing the possibility of prison if he fails to settle his financial obligations, Blues fans can’t help but feel a sense of vindication. His time as owner brought more harm than good, and the club has had to rebuild and stabilise in the years since his departure. For Birmingham City supporters, the fact that Yeung’s legal troubles are no longer tied to the club is a massive relief. The focus is now on moving forward, without the shadow of his troubled ownership hanging over St Andrew’s. Blues fans will hope that this is the last they hear of Carson Yeung as they look towards a brighter future.
Discussion about this post