Birmingham City Owner Carson Yeung Drops Club Roles as Money Laundering Trial Intensifies

Birmingham owner Carson Yeung has walked away from his roles as president and director of the Championship club as he awaits the verdict in his money laundering trial in Hong Kong.

The team’s holding company announced to the Hong Kong Stock Exchange that the 53-year-old had quit his directorships and now “holds no positions in the group”.

“Yeung resigned to devote more time to his other personal commitments,” said Birmingham International Holdings.

Yeung has been succeeded as BIHL chairman by Cheung Shing, another of the company’s executive directors.

Ma Shui Cheong, who has also been appointed to the main club board at St Andrew’s, has been appointed vice-chairman of BIHL.

BIHL expressed its gratitude in a prepared statement, which said: “Mr Yeung, with his foresight, aspiration and clairvoyance, has steered the board successfully through landmark projects such as the acquisition of Birmingham City Football Club, for which the board is profoundly indebted.

“Mr Yeung unequivocally confirms that he has no disagreement with the board and that there are no other matters relating to his resignation that are required to be brought to the attention of the shareholders of the company.”

Yeung has been standing trial on five counts of money laundering involving more than £57m deposited in five bank accounts from 2001 to 2007.

Prosecutors claim the money was “criminal proceeds,” and a verdict on the case is due on 28 February.

Birmingham’s 2011 Carling Cup success ended 48 years without a major trophy but the club were relegated from the Premier League the same year.