shull Posted March 7, 2014 Share Posted March 7, 2014 I've never read a post on here written in blue or red. What am I missing ? 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted March 7, 2014 Share Posted March 7, 2014 Rangers could not afford to put a team on the park without the EBT scheme" Thornhill QC 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted March 7, 2014 Share Posted March 7, 2014 (edited) Carson Yeung's murky past exposed but do Birmingham have a better future?As Birmingham City's owner awaits sentencing in a Hong Kong prison cell, his influence is set to remain at St Andrews. The Guardian, Monday 3 March 2014 14.52 GMT Birmingham City's owner Carson Yeung has been found guilty of money laundering and may spend up to seven years behind bars. Photograph: David Jones/PA Carson Yeung was approved by the Premier League as a "fit and proper person" to lead an £81.5m takeover of Birmingham City in 2009, despite an investigation having already begun in Hong Kong into the mystery swirling over how Yeung made his money. Now, after nearly five turbulent, mostly horrible, years for the football club, Yeung has been found guilty of money-laundering in a Hong Kong court, which ruled that HK$720m (£55m) of the fortune he amassed between 2001 and 2007 was the proceeds of crime. After a 53-day trial Yeung, described as a habitual liar by the judge, Douglas Yau, was remanded in custody to await sentencing on Friday, when he could face a maximum prison sentence of seven years. When he made his grand promises of an £80m investment into City after the holding company, Birmingham International Holdings, bought the club from David Sullivan and David Gold, how Yeung had risen to become a man of such means remained a puzzle. Just 10 years earlier he listed his occupation as a hairdresser and in response to questions his representatives in London issued a statement saying, with little additional explanation, that he was a director of two companies –Universal Energy Resources Holdings and Universal Management Consultancy. The prosecution alleged that the £55m of Yeung's fortune had been paid into five different bank accounts from illicit sources including employees of casinos in the Chinese gambling hotbed of Macau. Yeung claimed he had made serious money as a hairdresser to Hong Kong's rich and famous, then accumulated fortunes in share-trading and high-stakes gambling in Macau. Yau found this was untrue, and that there was an "extremely strange" lack of written contracts documenting Yeung's business dealings, even for transactions involving huge amounts of money. "I find the defendant not a witness of truth," the judge said. "I find that he is someone who is prepared to, and did try to, lie whenever he saw the need to do so." Birmingham supporters are desperately hoping that Yeung's conviction will lead to new owners and a more decent future for the club, who were relegated in 2011, the same season they won the League Cup, and have fallen into serious financial difficulties since the arrest of Yeung, who had loaned City £15m. However the club's acting chairman and long-term Yeung associate, Peter Pannu, reacted to the guilty verdict by insisting that the Hong Kong-listed holding company, Birmingham International Holdings, of which Yeung was the chairman until last month, will remain in charge. "I'd like to reassure all supporters and staff that today's verdict will have no impact on the day-to-day operations at the football club," Pannu said in an official statement, expressing "regret" that the club's "former president and benefactor," had been convicted. "Birmingham International Holdings limited … shall continue to support the football club … and will work to raise further investment." This investment, which ultimately depends on approval by the Hong Kong justice authorities which are likely to seek to recover any assets they legally can, proposes Yeung writing off repayment of the £15m the club owes him, and remaining a 28% shareholder. This is below the 30% threshold at which the Football League requires owners to be "fit and proper", free from criminal convictions for dishonesty. So Yeung, who resigned as a club and holding company director last month, could legitimately remain the largest shareholder in Birmingham City while serving time for money-laundering in a Hong Kong prison cell. Pannu, the former Hong Kong policeman turned barrister who arrived at St Andrew's as one of Yeung's main executives in 2009, remains a director of the club, as does Yeung's 20-year-old son Ryan, who lists his occupation as "student", and Shui Cheong Ma, Yeung's brother in law, who joined the board last month, when Yeung resigned. Ever since Yeung was arrested in 2011 and his assets frozen, Pannu, Carson and Ryan Yeung have repeatedly stated that the club itself will not be ensnared by the money-laundering trial and any consequences of Yeung being found guilty. Announcing a £4m loss for the financial year 2012-13 and the club's need for "additional funding" if it is to "continue its operations for at least 12 months", the club's most recent accounts stated: "The directors have not received any information to suggest that any funding provided to BCFC by Carson Yeung ... have any connection with the five charges that he faces. The directors do not have any credible reason to fear that the Hong Kong authorities have any recourse to the loans made to BCFC by Carson Yeung." This confidence will now be tested. The Hong Kong justice authorities are also needed to approve Pannu's efforts to entrench the club's ownership in Hong Kong, with a planned £7m placing of shares and borrowing of £24m by issuing a bond to a company owned by a Chinese property developer, Yang Yue Zhon, who has twice previously loaned money to BIHL. Buried in City's most recent accounts was the startling line about Yeung's £15m loan to the club. "The amounts … were advanced without formal documentation and there are no written terms for interest and the term of repayment." The Hong Kong judge has found a similar lack of documentation for much of Yeung's business dealings, before he arrived to present himself as a mega-wealthy magnate joining other overseas owners attracted to English football's money and glamour. Blues Trust, the supporters' trust, reacted to the guilty verdict by calling for greater involvement in the ownership and expressing hope for a new era. Pannu, though, plans to press ahead with the series of proposed deals which make fan involvement, and a sale of the club by the Hong Kong-registered holding company, still distant prospects. _____________________________________________________________________________________ What's the criteria in Scotland for someone to be a 'fit and proper' person ? P.S. Yeung found guilty and given 6 years. Yet, according to to rules of the English FA, he can still be a major stakeholder in a football club. Three Cheers for Carson !!......... Huzzah ! Huzzah ! Huzzah ! Edited March 7, 2014 by Florentine_Pogen 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted March 7, 2014 Share Posted March 7, 2014 I've never read a post on here written in blue or red. What am I missing ? What you are missing is a small band of SevcoMen who, for the most part, have difficulty in expressing themselves lucidly and therefore use the forum as a Speak and Spell / Etch-A-Sketch. You'll get used to it. Keep some eye bleach handy though. 0 Quote Link to comment Share on other sites More sharing options...
Mabawsa_Ritchie Posted March 7, 2014 Share Posted March 7, 2014 (edited) Carson Yeung's murky past exposed but do Birmingham have a better future?As Birmingham City's owner awaits sentencing in a Hong Kong prison cell, his influence is set to remain at St Andrews. The Guardian, Monday 3 March 2014 14.52 GMT Birmingham City's owner Carson Yeung has been found guilty of money laundering and may spend up to seven years behind bars. Photograph: David Jones/PA Carson Yeung was approved by the Premier League as a "fit and proper person" to lead an £81.5m takeover of Birmingham City in 2009, despite an investigation having already begun in Hong Kong into the mystery swirling over how Yeung made his money. Now, after nearly five turbulent, mostly horrible, years for the football club, Yeung has been found guilty of money-laundering in a Hong Kong court, which ruled that HK$720m (£55m) of the fortune he amassed between 2001 and 2007 was the proceeds of crime. After a 53-day trial Yeung, described as a habitual liar by the judge, Douglas Yau, was remanded in custody to await sentencing on Friday, when he could face a maximum prison sentence of seven years. When he made his grand promises of an £80m investment into City after the holding company, Birmingham International Holdings, bought the club from David Sullivan and David Gold, how Yeung had risen to become a man of such means remained a puzzle. Just 10 years earlier he listed his occupation as a hairdresser and in response to questions his representatives in London issued a statement saying, with little additional explanation, that he was a director of two companies –Universal Energy Resources Holdings and Universal Management Consultancy. The prosecution alleged that the £55m of Yeung's fortune had been paid into five different bank accounts from illicit sources including employees of casinos in the Chinese gambling hotbed of Macau. Yeung claimed he had made serious money as a hairdresser to Hong Kong's rich and famous, then accumulated fortunes in share-trading and high-stakes gambling in Macau. Yau found this was untrue, and that there was an "extremely strange" lack of written contracts documenting Yeung's business dealings, even for transactions involving huge amounts of money. "I find the defendant not a witness of truth," the judge said. "I find that he is someone who is prepared to, and did try to, lie whenever he saw the need to do so." Birmingham supporters are desperately hoping that Yeung's conviction will lead to new owners and a more decent future for the club, who were relegated in 2011, the same season they won the League Cup, and have fallen into serious financial difficulties since the arrest of Yeung, who had loaned City £15m. However the club's acting chairman and long-term Yeung associate, Peter Pannu, reacted to the guilty verdict by insisting that the Hong Kong-listed holding company, Birmingham International Holdings, of which Yeung was the chairman until last month, will remain in charge. "I'd like to reassure all supporters and staff that today's verdict will have no impact on the day-to-day operations at the football club," Pannu said in an official statement, expressing "regret" that the club's "former president and benefactor," had been convicted. "Birmingham International Holdings limited … shall continue to support the football club … and will work to raise further investment." This investment, which ultimately depends on approval by the Hong Kong justice authorities which are likely to seek to recover any assets they legally can, proposes Yeung writing off repayment of the £15m the club owes him, and remaining a 28% shareholder. This is below the 30% threshold at which the Football League requires owners to be "fit and proper", free from criminal convictions for dishonesty. So Yeung, who resigned as a club and holding company director last month, could legitimately remain the largest shareholder in Birmingham City while serving time for money-laundering in a Hong Kong prison cell. Pannu, the former Hong Kong policeman turned barrister who arrived at St Andrew's as one of Yeung's main executives in 2009, remains a director of the club, as does Yeung's 20-year-old son Ryan, who lists his occupation as "student", and Shui Cheong Ma, Yeung's brother in law, who joined the board last month, when Yeung resigned. Ever since Yeung was arrested in 2011 and his assets frozen, Pannu, Carson and Ryan Yeung have repeatedly stated that the club itself will not be ensnared by the money-laundering trial and any consequences of Yeung being found guilty. Announcing a £4m loss for the financial year 2012-13 and the club's need for "additional funding" if it is to "continue its operations for at least 12 months", the club's most recent accounts stated: "The directors have not received any information to suggest that any funding provided to BCFC by Carson Yeung ... have any connection with the five charges that he faces. The directors do not have any credible reason to fear that the Hong Kong authorities have any recourse to the loans made to BCFC by Carson Yeung." This confidence will now be tested. The Hong Kong justice authorities are also needed to approve Pannu's efforts to entrench the club's ownership in Hong Kong, with a planned £7m placing of shares and borrowing of £24m by issuing a bond to a company owned by a Chinese property developer, Yang Yue Zhon, who has twice previously loaned money to BIHL. Buried in City's most recent accounts was the startling line about Yeung's £15m loan to the club. "The amounts … were advanced without formal documentation and there are no written terms for interest and the term of repayment." The Hong Kong judge has found a similar lack of documentation for much of Yeung's business dealings, before he arrived to present himself as a mega-wealthy magnate joining other overseas owners attracted to English football's money and glamour. Blues Trust, the supporters' trust, reacted to the guilty verdict by calling for greater involvement in the ownership and expressing hope for a new era. Pannu, though, plans to press ahead with the series of proposed deals which make fan involvement, and a sale of the club by the Hong Kong-registered holding company, still distant prospects. _____________________________________________________________________________________ What's the criteria in Scotland for someone to be a 'fit and proper' person ? P.S. Yeung found guilty and given 6 years. Yet, according to to rules of the English FA, he can still be a major stakeholder in a football club. Three Cheers for Carson !!......... Huzzah ! Huzzah ! Huzzah ! Merely that the seller has to vouch for the buyer as a 'fit and proper person' apparently! So if the Easdales & Co want to sell Sevco to DK, then they merelty have to say he's really a good guy albeit a convicted crook. Much the same way as Murray vouched for Whyte. All a joke really, but the English FA patently operate on the same principle. Edited March 7, 2014 by Mabawsa_Ritchie 0 Quote Link to comment Share on other sites More sharing options...
GreenockRover Posted March 7, 2014 Share Posted March 7, 2014 Merely that the seller has to vouch for the buyer as a 'fit and proper person' apparently! So if the Easdales & Co want to sell Sevco to DK, then they merelty have to say he's really a good guy albeit a convicted crook. Much the same way as Murray vouched for Whyte. All a joke really, but the English FA patently operate on the same principle. Quite. Time the investigative journalists like Tom English and Alex Thomson got stuck into BOTH F.A.'s governance shortcomings and exposed the insidious practices being used. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted March 7, 2014 Share Posted March 7, 2014 (edited) Quite. Time the investigative journalists like Tom English and Alex Thomson got stuck into BOTH F.A.'s governance shortcomings and exposed the insidious practices being used. Ha, there would probably be a lot of clubs looking for a new, clean owner then. .......................... and don't expect anything to happen in Scotland when we've got the SFA / SPL being run by Ogilvie, Regan and Cockwomble. Corrupt to a man. Edited March 7, 2014 by Florentine_Pogen 0 Quote Link to comment Share on other sites More sharing options...
forever_blue Posted March 7, 2014 Share Posted March 7, 2014 I've never read a post on here written in blue or red. What am I missing ? a coloured computer screen ? -1 Quote Link to comment Share on other sites More sharing options...
lithgierose Posted March 7, 2014 Share Posted March 7, 2014 You can keep on top with the latest here - http://www.newsnow.co.uk/h/Sport/Football/Scottish+League+One/Rangers seriously,do the rangers fans read that stuff.? see ally has backed down mentioning he wants 30 mil for his war chest. dave king must be sitting rubbing his hands at the thought of season ticket monies being handed to him.to put into his ban a trust fund. 0 Quote Link to comment Share on other sites More sharing options...
lithgierose Posted March 7, 2014 Share Posted March 7, 2014 a coloured computer screen ? I asked you a question pages back.are you buying a season ticket for ibrox.? 0 Quote Link to comment Share on other sites More sharing options...
GreenockRover Posted March 7, 2014 Share Posted March 7, 2014 (edited) I asked you a question pages back.are you buying a season ticket for ibrox.? Try it this way lithigerose; "Do you swallow.....or spit?" Edited March 7, 2014 by GreenockRover 0 Quote Link to comment Share on other sites More sharing options...
lithgierose Posted March 7, 2014 Share Posted March 7, 2014 depends who she is 0 Quote Link to comment Share on other sites More sharing options...
GreenockRover Posted March 7, 2014 Share Posted March 7, 2014 Ha, there would probably be a lot of clubs looking for a new, clean owner then. Would agree with you there.... Let's face it.... when the head of FIFA is a greedy corrupt bribe taking w****r is it any wonder the business suits see, and seize, their opportunity for a spot of washing some tax cash in return for a wee corporate jolly every now and again ? I mean, call me a cynic if you want... 0 Quote Link to comment Share on other sites More sharing options...
lithgierose Posted March 7, 2014 Share Posted March 7, 2014 the reason i asked him was.used to hate going to matches,then after the game in the pub.there was always some c##t who always asked the question.did WE win did WE lose....hate they feckers.bet it's the same on here with the so called bears.probably more than half them couldn't find ibrokes. 0 Quote Link to comment Share on other sites More sharing options...
forever_blue Posted March 7, 2014 Share Posted March 7, 2014 I asked you a question pages back.are you buying a season ticket for ibrox.? yes I am . why? 0 Quote Link to comment Share on other sites More sharing options...
lithgierose Posted March 7, 2014 Share Posted March 7, 2014 yes I am . why? just wondering if you were for DK or not.obviously not then. no other reason. 0 Quote Link to comment Share on other sites More sharing options...
ribzanelli Posted March 7, 2014 Share Posted March 7, 2014 Adolf Hitler, Joe Stalin, Pol Pot, Idi Amin and Dave King...... You would normally expect this to be tongue in cheek but these guys would probably all be welcomed as investors at Ibrox provided they gave a few WATP soundbites and promised to spend their cash to stop Celtic getting 10 in a row. 0 Quote Link to comment Share on other sites More sharing options...
forever_blue Posted March 7, 2014 Share Posted March 7, 2014 just wondering if you were for DK or not.obviously not then. no other reason. if i.am being honest I have my pros and cons about both parties linlithgow. at the end of the day my seasons ticket seat has been in my family for over 30 odd years with me being in charge of it for the last 6 years and taking over paying for it since I left school 4 years ago some I will not hesitate to renew. my view is holding back the money will do the club more harm than good and I just want to go and watch my team play fucking.football more than all this boycotting nonsense etc. 0 Quote Link to comment Share on other sites More sharing options...
GreenockRover Posted March 7, 2014 Share Posted March 7, 2014 Does the sponsors logo stand for Frauds & Cheats or Flushed & Counted? #AskMrYeung 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted March 7, 2014 Share Posted March 7, 2014 a coloured computer screen ? Shull still uses his old amstrad green screen lol 0 Quote Link to comment Share on other sites More sharing options...
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