Birmingham in crisis as owner Carson Yeung is arrested

Posted Thursday, June 30, 2011 by The Sun

BIRMINGHAM CITY were plunged into crisis after owner Carson Yeung was arrested over alleged money laundering.

The club's future has been left hanging in the balance with Yeung in custody and due to appear in court in Hong Kong today.

He faces up to 14 years in prison if convicted.

A brief statement revealed that charges involved five counts of dealing with property known or believed to represent proceeds of an indictable offence.

Sources said earlier that police launched an investigation two years ago into around £500,000 in cash and securities from unidentified sources being deposited in a bank account.

Cops arrived at 51-year-old Yeung's home early yesterday.

Two hours later the businessman - who bought Birmingham for £81.51million from David Sullivan and David Gold two years ago - emerged with two plain-clothed officers and was driven to a local police station.

His lawyer arrived 15 minutes later and Yeung was then taken to Hong Kong Police HQ.

More cops were at the offices of Birmingham International Holdings - the club's parent company - in Sheung Wan. They left with an assortment of documents.

Blues' acting chairman Peter Pannu insisted the matter has nothing to do with the club's operation.

But Birmingham legend Kenny Burns, 57, admitted he fears for his former team.

Burns, who made 170 appearances for Birmingham, said: "You have to wonder what's going to happen.

"I've been surprised by a lot of things coming out of the club recently, especially Alex McLeish leaving.

"Are we going to find ourselves in the position where the club is put up for sale? And how much longer can the club go on if the investment stops coming in?

"It's a worrying time for everyone connected with the club.

"I think Chris Hughton would have known what the finances were like when he came in. He may be more concerned now."

Pannu said: "I have just had a call from the Birmingham International Holdings lawyers in Hong Kong.

"I have been informed by them that Carson is assisting with inquiries that have nothing to do with the operation of BIHL in Hong Kong and therefore nothing to do with the operation of the club."