HONG KONG (REUTERS) - Birmingham City Football Club boss Carson Yeung was sentenced to six years in jail on Friday for laundering US$93 million (S$118 million) following a high-profile trial that cast a spotlight on how the barber-turned-businessman made his fortune.
Yeung, 54, was found guilty by a Hong Kong court on Monday of five counts of money-laundering. He had denied the charges.
The businessman had told the court he amassed his wealth through hairdressing, share trading, property purchases, gambling in the world's casino hub of Macau and other investments.
The former hair stylist to Hong Kong's rich and famous laundered the money between January 2001 and December 2007 through five bank accounts, the court found.