By Christine Duhaime, B.A., J.D., Gaming Attorney & Certified Anti-Money Laundering Specialist
Guilty of Money Laundering
Hong Kong tycoon and former Birmingham City Football Club owner, Carson Yeung, was found guilty of money laundering in a Hong Kong Court today. The prosecution alleged that he laundered $73 million from 2001 to 2007 through two Hong Kong banks for a Macau junket operator, Neptune Group. In October, Mr. Yeung admitted in Court that he accepted 12 wire transfers totalling approximately $2 million from a Macau casino sent by Cheung Chi Tai, an alleged leader of the Hong Kong based Wo Hop To, a Triad gang. Mr. Yeung maintained that he acquired his wealth from being a hair dresser and trading in penny stocks.