Former Birmingham City FC owner Carson Yeung told to pay US$43.2 million in crime proceeds or face another 10 years in prison
- Prosecutors agree to settle for confiscating less than half of money-laundering funds from Yeung, who is due to be released from jail in January
- The former Birmingham City boss was sentenced to six years in prison for money laundering in 2014
Former Birmingham City Football Club boss Carson Yeung Ka-sing was on Monday ordered to pay Hong Kong prosecutors HK$338 million (US$43.2 million) worth of crime proceeds in the next 12 months or serve 10 more years in prison.
Prosecutors had applied to confiscate all HK$721 million involved in the high-profile money laundering case that landed Yeung, 58, a six-year prison sentence in March 2014.
But on Monday they agreed with his lawyers Robert Lee SC and Peter Pannu to a consent order for him to pay less than half of the demanded sum.
District judge Douglas Yau Tak-hong’s order came a month before Yeung’s expected release from maximum-security Stanley Prison in mid-January.
The same judge had convicted and jailed the hairdresser-turned-businessman on five charges of laundering HK$721 million using five bank accounts at Wing Lung Bank and HSBC between 2001 and 2007.
His trial heard various parties, including securities firms and a Macau casino, made 963 deposits into the accounts, many for no apparent reason.
