Birmingham football club boss jailed for 6 years

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Hong Kong businessman Carson Yeung was sentenced to six years in jail on Friday for money laundering in a high-profile case that law enforcement officials hailed as an important victory to combat money laundering in the global financial hub.

Yeung, 54, who was found guilty by a Hong Kong court on five counts of money-laundering some HK$721 million ($93 million) over several years, is a flamboyant self-made millionaire and owner of British football club Birmingham City.

In the detailed exposition of hundreds of suspicious transactions made by Yeung and multiple parties, the trial cast a rare spotlight on some of the murky channels and methods used by underground banks and money launderers in moving illicit capital between , Hong Kong and the gambling hub of Macau. “Maintaining the integrity of the banking system is of paramount importance if Hong Kong is to remain an international finance center,” said ¬†Judge .

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Related news link: Birmingham City owner sentenced to 6-year term