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Finance expert: Fears over seizure of Yeung's stake in Birmingham City

A football finance expert has said life could be difficult for Birmingham City following Carson Yeung's sentencing, because there are fears that his stake in the club may be seized by the Hong Kong state.

Yeung, who resigned as Chairman of the club last month, laundered more than £55 million through his bank accounts over six years, and has been jailed for six years.

Robert Matusiewicz says the shares once held by Carson Yeung could be bought by an individual with no affinity to Birmingham City, and view it simply as an investment.

Carson Yeung sentenced to six years in jail

Carson Yeung has been sentenced to six years in jail Credit: Reuters

Former Birmingham City Football Club chairman Carson Yeung has been sentenced to six years in jail for laundering £55 million following a high-profile trial.

The 54-year-old was found guilty by a Hong Kong court on Monday of five counts of money-laundering. He had denied the charges.

The businessman told the court he had amassed his wealth through hairdressing, share trading, property purchases, gambling in the world's casino hub of Macau and otherinvestments.

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.

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Birmingham City owner to be sentenced in Hong Kong

Carson Yeung could face up to 14 years in jail Credit: Reuters

Carson Yeung the owner of Birmingham City Football Club is due to be sentenced in Hong Kong today.

He has been found guilty of five counts of money laundering by a court in Hong Kong. The 54-year-old had denied laundering HK$720 million (£55.4m) through his bank accounts between 2001 and 2007.

He could face up to 14 years in jail.

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Birmingham City fans "are in limbo"

Fans say they feel "confused" and "in limbo" following Carson Yeung's guilty conviction on five counts of money laundering.

This morning Birmingham City's acting chairman Peter Pannu sought to reassure fans that the Honk Kong court's verdict would not change "day-to-day operations" at the club.

Carson Yeung: acting chairman's statement

Yeung's charges will have "no impact" on day to day operations Credit: Birmingham City FC

Birmingham City FC's acting chairman Peter Pannu has released the following statement:

"I regret to inform all supporters and staff of our beloved club that Birmingham City F.C's former president and benefactor, Carson Yeung, was today convicted of all charges he faced following a protracted period of legal proceedings.

"I'd like to reassure all supporters and staff that today's verdict will have no impact on the day-to-day operations at the football club.

"Birmingham International Holdings Limited, the holding company, shall continue to support the football club under the leadership of the group's new chairman, Mr Cheung Shing, and will work to raise further investment to support Birmingham City F.C. going forward."

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Birmingham City FC owner guilty of money laundering

The owner of Birmingham City Football Club has been found guilty of five counts of money laundering by a Hong Kong court.

File photo of Birmingham City Football Club owner Carson Yeung. Credit: David Jones/PA Wire

Carson Yeung previously denied laundering a total of US$93 million (£55.5 million) between January 2001 and December 2007.

Yeung is due for sentencing on Friday.

Lee Clark says Yeung trial is not 'his concern'

Speaking at a press conference this morning ahead of Birmingham City's championship clash with Ipswich, manager Lee Clark refused to comment on the impending verdict of Carson Yeung's money laundering trial in Hong Kong.

He told ITV News Central that he was only concerned with matters on the pitch, and 'whatever happens elsewhere happens'.

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