Ex-football club owner Carson Yeung warned of jail time in Hong Kong over unpaid debt

Prosecutors have given the former Birmingham City club owner a month to sort his finances after he missed a payment for his HK$338 million debt

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Carson Yeung was convicted of five charges of laundering HK$721 million in 2014. Photo: Sam Tsang

Published: 2:50pm, 10 Sep 2024Updated: 5:54pm, 10 Sep 2024

Hong Kong prosecutors have told former Birmingham City Football Club owner Carson Yeung Ka-sing to sort out his finances in a month or face jail time after he missed a payment over his HK$338 million (US$43.4 million) debt resulting from his conviction in a money-laundering case 10 years ago.

Yeung, 64, appeared in the High Court on Tuesday, six years after he was ordered to pay half of the HK$721 million linked to the high-profile money-laundering case. He was first convicted in 2014 and jailed for six years.

The prosecutor told the court that Yeung had already paid back the Department of Justice about HK$104 million over the years, during which the parties agreed to extend the repayment period due to the Covid-19 pandemic and other factors.

But in July of this year, he told the department in a written letter that he was unable to make the required payment of HK$19 million, as he could only gather the funds after he managed to sell his property on The Peak.

The property is one of the four residential units at Richmond House on 31 Barker Road, with an area ranging from 3,203 sq ft to 3,845 sq ft.