A former licensed securities trader was charged by the ICAC for his alleged involvement in fraudulent scams in relation to the trading of derivative warrants.

Cheung Ching-ho, 37, was brought to the Eastern Magistracy this (Wednesday) morning to face a total of four counts of conspiracy to defraud.

No plea was taken. Magistrate Ms Bina Chainrai adjourned the case until December 30 for transfer to the District Court. The defendant was remanded in the custody of the Correctional Services Department.

The charges alleged Cheung of having conspired with other persons to defraud CLSA Limited, Citigroup Global Markets Asia Limited, Standard Securities Asia Limited, and Taifook Securities Company Limited; and other persons being induced to trade in derivat ive warrants issued by four companies.

The defendant is alleged to have conspired to cause employees for the said companies to render favourable prices to be quoted to people connected with Raymond Ng Chun-to who was earlier charged with the same offences, and of creating a false or misleading appearance of active trading in the said derivative warrants.

The said warrants involved were issued by Calyon Financial Products (Guernsy) Limited, Citigroup Global Markets Holdings Incorporation, Standard Bank PLC, and Dresdner Bank AG.

The alleged offences took place between September 2005 and May 2008.

The prosecution today was represented by Senior Public Prosecutor Peter Daryanani, assisted by ICAC officer Ada Lau.