Birmingham City owner Carson Yeung has been found guilty by a Hong Kong court of five counts of money-laundering.
Yeung, 54, had denied five charges of money-laundering between January 2001 and December 2007, totalling $93million.
District Court Judge Douglas Yau said Yeung had lied about how he made his money and exaggerated the amount of profit generated by his hair salon business.
"I find the defendant not a witness of truth. I find that he is someone who is prepared to, and did try to, lie whenever he saw the need to do so," said Judge Yau.
Yeung, who was dressed in a dark suit and striped tie, will be sentenced on Friday morning.
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