The ICAC has charged two former executives of an internet financial information services company for alleged fraud in taking advantage of the company's server to benefit their own business.

Chau Ki-shun, 32, former account director of Quam HK Limited (Quam), and Wong Kwok-yin, 30, former system manager of Quam, will appear in Eastern Magistracy at 9:30 am on Monday (July 30) on a joint charge of conspiracy to defraud. Chau further faces one count of fraud.

The ICAC investigation arose from a corruption complaint referred by Quam, a subsidiary of publicly listed Quam Limited. Subsequent inquiries revealed the above alleged offences.

Quam is a company engaged in providing financial information services to its clients through the Internet. At the time of the alleged offences, the defendants were employed by Quam.

One of the charges alleges Chau and Wong of conspiring together to defraud Quam between September 1, 2005 and March 21, 2006.

They are alleged to have dishonestly permitted the computer server of Finpex Strategy Company Limited (Finpex) to be connected to the server of Quam at the Data Centre of New World Telecommunications Ltd. without the authority of Quam.

Finpex is a company set up by Chau to run similar business as Quam.

Another charge alleges Chau of falsely representing to an employee of a toys company between October 1, 2005 and April 30, 2006 that Finpex was a partner of Quam in website design, and that the website design jobs of Quam were mostly assigned to Finpex fo r execution.

As a result of the alleged false representation, Chau, with intent to defraud, had allegedly induced the toys company's employee to hire Finpex to design a website for the company.

The defendants have been released on ICAC bail, pending their court appearances on Monday.