HONG KONG: Hong Kong businessman and Birmingham City owner Carson Yeung was on Friday sentenced to six years in jail for laundering HK$720 million ($93 million.)
Judge Douglas Yau handed down the sentence in the southern Chinese city’s district court after convicting the 54-year-old of five charges of money laundering on Monday.
“The sentence must include an element of deterrence to discourage those who are in a position to exploit the system,” the judge said.
“The law will come down on them with full force,” he told a courtroom packed with reporters.
“Maintaining the integrity of the banking system is of paramount importance if Hong Kong is to remain an international finance centre,” Yau added.
Hong Kong police investigator Yu Yin-ching said outside court that she was “happy” with the outcome of the case, which started in 2008.