Yeung charges won’t affect Brum, insists Pannu

ACTING chairman Peter Pannu insists Birmingham are in a sound financial position after flying to Hong Kong for talks with owner Carson Yeung who has been charged with five counts of money-laundering involving £59 million (€65 million).

Yeung has been released on bail of £558,000 until the next hearing, which is scheduled for August 11, and in addition has been ordered to surrender his travel documents and report regularly to police.

He is Birmingham’s major shareholder, and the shares of Birmingham’s holding company, Grandtop International Holdings, have been suspended.