Skyworth Digital Holdings' chairman and executive director will make their pleas to charges for misappropriating $48 million in company funds in March.

Wong Wang-sang, 48, and Wong Pui-sing, 37, jointly charged with a count of conspiracy to steal, appeared in Eastern Magistracy today and no pleas were taken. The case was adjourned to March 2 and they were each granted $1 million bail and ordered to surrender their travel documents.

They were among 10 people arrested by the Independent Commission Against Corruption on November 30. The pair allegedly conspired with others to steal nine cheques totalling $48,378,169.99, drawn on the Skyworth bank account between November 2000 and April 2003.

Five more people have been arrested in connection with the same investigation, bringing the total number of arrests to 15. They included an employee, a former staff member, a former executive director, and two others.