The money I took was from my investments: Carson Yeung
Soccer boss insists cheque deposits of millions of dollars from Macau casino junket operators came from money he had put into the firms
Birmingham City Football Club boss Carson Yeung Ka-sing said he accepted cheques involving millions of dollars from staff members of Macau casino junket operators because the money came from his investment capital in those firms, a court heard yesterday.
The hairdresser-turned-businessman said all the money collected in this way was spent on his father and himself. He did not return "a single dime" to the junket operators, Neptune Club and Neptune Group, he said.
Yeung, 53, was responding to prosecution queries on several cheque deposits made into bank accounts involved in his money-laundering trial.
The money was paid by Neptune shareholders and employees directly into his accounts, the District Court heard.
"All [the depositors] have addresses in Hong Kong, ID numbers and bank records. That's why my mind was at ease when I accepted the cheques," Yeung said.
"Also, at that time, my feeling … was that the money was the capital of my investment. If I wanted to conceal it, I could have asked them to pay me in cash."
