Blues Saga: Judge rejects Yeung appeal
FORMER Birmingham City FC chairman Carson Yeung has lost his appeal to have money laundering convictions against him quashed.
A judge at the Hong Kong Court of Appeal said he was satisfied that the convictions were sound and now Yeung will serve the remainder of his six year imprisonment after being found guilty last year of five counts of money laundering.
The decision means Yeung will now face an even tougher battle trying to realise any benefits from the possible sale of the football club, which he bought for £81.5m in 2009.
While being ousted from all his football-related positions and as chairman and director of parent company, Birmingham International Holdings, Yeung is still thought to have been trying to control events from behind the scenes.
Last month his representatives tried to get a decision to appoint receivers from Ernst & Young to BIH overturned.
The move has been rejected by the receivers. In the meantime, they have now shortlisted a potential bidder for the holding company.
Trillion Trophy Asia Ltd has put up £880,000 cash collateral as a show of faith and secured a near £13m loan facility as a demonstration of its intent.
Talks between the receivers and Trillion are continuing.
