Source: Team_Talk
FL monitoring Yeung situation
It is believed Carson Yeung can remain in control at Birmingham even if found guilty of laundering money amounting to £59million.[LNB] Yeung has been released on bail of £558,000 until the next hearing in his native Hong Kong, which is scheduled for August 11.[LNB]In addition, Yeung has been ordered to surrender his travel documents and report regularly to police.[LNB]The shares of City's parent company, Birmingham International Holdings, have been suspended.[LNB]If the charges against him are proven, Yeung would have to stand down as a director of the club under the "fit and proper persons" test which is part of Football League regulations.[LNB]But he would be able to stay at the helm as the majority shareholder with a 26% stake in Birmingham.[LNB]A Football League spokesman said: "The Football League are monitoring the situation. We can't comment further than that."[LNB]Yeung was granted bail after appearing in court yesterday to answer alleged offences which took place between 2001 and 2007 - two years before he took control at St Andrew's.[LNB]Acting City chairman Peter Pannu insists Birmingham are in a sound financial position after flying to Hong Kong yesterday for talks with Yeung.[LNB]Pannu is adamant that there is no connection between the charges against Yeung and the midlands club.[LNB]He said: "I've had it explained to me that the charges relate to the 2001-2007 period.[LNB]"That is two years before Carson invested in this club so there is no connection there. The finances are okay."[LNB]Pannu has tried to allay the fears of supporters after another setback following relegation from the Premier League and the loss of manager Alex McLeish to local rivals Aston Villa.[LNB]He said: "The fans have nothing to worry about. Understandably the fans are worried about this.[LNB]"But this has got nothing to do with the club and there is no impact on the operations over here.[LNB]"I've spoken on a couple of occasions to Carson and his lawyers and they've assured me there is no link whatsoever."[LNB]Yeung bought a 29.9% stake in City in summer 2007.[LNB]He took full control of the Carling Cup winners midway through the 2009-2010 season in an £81million takeover from David Sullivan and David Gold.[LNB]
