Yeung charge will not affect Birmingham, says chairman

Carson Yeung

Yeung faces five counts of money laundering involving £59m

Birmingham chairman Peter Pannu has insisted the club is financially secure after owner Carson Yeung was charged with money laundering.

Yeung, who took over at St Andrew's in 2009, has been released on bail in his native Hong Kong.

"This has got nothing to do with the club and there is no impact on the operations over here," said Pannu.

"Understandably the fans are worried about this but they have nothing to worry about. The finances are OK."

Yeung faces five counts of money laundering, with the amount involved totalling £59m.

He has been ordered to surrender his travel documents and report regularly to the Hong Kong police until his next hearing, which is scheduled for 11 August.

The charges relate to the 2001-2007 period - two years before Carson invested in this club

Birmingham chairman Peter Pannu

Pannu, who is flying to Hong Kong on Thursday, is adamant that the charges against Yeung are not linked to Birmingham.

"I've spoken on a couple of occasions to Carson and his lawyers and they've assured me there is no link whatsoever," added Pannu.

"I've had it explained to me that the charges relate to the 2001-2007 period. That is two years before Carson invested in this club so there is no connection there.

Birmingham, who won the Carling Cup in February, were relegated from the Premier League last season.

Alex McLeish resigned as Blues boss earlier this month, with Chris Hughton appointed as his successor.