Organized Crime boss control empire from prison

The perpetrator was Carson Yeung, Hong Kong hairdresser turned businessman who made his fortune trading in penny stocks/shares, eventually becoming the president of English football club Birmingham city football club in 2009.

After years of high living the charges brought against him included money laundering totaling a value of USD92.8 million from entities including casinos and suspected criminals. It was ruled that between 2001 and 2007 much of the money which went through Five of Yeung’s bank accounts came from illicit sources in Macau. In his defense, Yeung claimed that the funds were Casino winnings. He was unable to convince anyone, let alone the judge. Yeung was sentenced to six years imprisonment.

“He did not care where the money came from, and he did not bother to ask,” said Judge Douglas Yau, adding that Mr. Yeung had lied throughout his testimony. “He was just making it up as he went along.”

In 2018, jailed Hong Kong businessman Carson Yeung Ka-sing denied in court that he had controlled Birmingham City Football Club while he was behind bars for money laundering.

The hairdresser turned businessman was testifying against a former accountant of Birmingham International Holdings – of which Yeung was chairman until 2014 – now on trial for theft. Jerry Ko Ka-wai, 35, has denied stealing US$4.8 million from the company between September 26, 2013 and December 16, 2014. Sounds like a criminal stealing from the Senior criminal.

Published by Kemman

Regulatory and Independent Consulting Professional with expertise in Financial Crime Risk Compliance encompassing Anti-Money Laundering (AML), Countering Terrorism Financing (CTF), Anti-Bribery & Corruption (ABC – FCPA & UKAB), Global Trade & Sanctions, Bank Secrecy Act (BSA), Know Your Customer (KYC) and Customer Due Diligence (CDD), Internal Audit Testing, Reviews, Validation, Risk Assessment. Worked in Asia, Africa, Europe, the Middle East, North America (USA). Banking & FinTech, Anti-Sex & Human Trafficking Advocate, FOREX & Cryptocurrency trading, Travel & Tours, Telecommunications & Energy.

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