Birmingham City owner Carson Yeung guilty of money laundering

Former Birmingham City Football Club owner Carson Yeung arrived at a district court in Hong Kong on Feb 28, 2014. Yeung was on March 3, 2014 found guilty of three counts of money laundering by a Hong Kong court. -- FILE PHOTO: REUTERS
Former Birmingham City Football Club owner Carson Yeung arrived at a district court in Hong Kong on Feb 28, 2014. Yeung was on March 3, 2014 found guilty of three counts of money laundering by a Hong Kong court. -- FILE PHOTO: REUTERS

HONG KONG (REUTERS) - Birmingham City Football Club owner Carson Yeung was found guilty by a Hong Kong court on Monday of five counts of money-laundering, in a high-profile trial that has cast a spotlight on how the barber-turned-businessman made his fortune.

Yeung, 54, had denied five charges of money laundering between January 2001 and December 2007, totaling US$93 million (S$118 million).

He will be sentenced on Friday morning.

Last month, Yeung resigned from parent company Hong Kong-listed Birmingham International Holdings Ltd (BIHL) while he awaited the verdict.