When Carson Yeung bought Birmingham City FC in 2009, he was a little-known Hong Kong businessman who declared that he would build up the team's fan base in China.
Yeung also claimed he would generate new sources of revenue. Little did anyone know at the time how allegedly creative he already was with his money.
Yeung was charged Thursday with five counts of money laundering, The Associated Press reports. The charges amount to more than $92 million of bank deposits from January 2001 to December 2007.
Yeung, who bought Birmingham for $131 million, was granted bail but reportedly ordered to surrender his travel documents to authorities.
Peter Pannu, acting chairman of Birmingham, said in statement that the allegations are not connected to the club.
"I've had it explained to me that the charges relate to the 2001 to 2007 period — two years before Carson invested in the club, so there is no connection there," Pannu said. "The fans have nothing to worry about. The finances are OK."
Birmingham won the League Cup in February, ending a title drought that had lasted 48 years.
