A solicitor and a solicitor's clerk are among seven people arrested for allegedly swindling money with bogus standby Letters of Credit.

Paul Chan & Co. Solicitors proprietor Chan Nai-keung, 53, the firm's law clerk Chiang Pak-yeung, 50, Wah Shun Investment Enterprise proprietor Zhong Peihong, 43, merchant Lam Chun, 34, Andy Chan, 30, Albert Lee, 45, and Lui Chung-yee, 46, appeared in Eastern Magistracy today facing one joint charge of conspiracy to use a copy of a false instrument.

No pleas were taken and Magistrate Ian Candy adjourned Chan Man-chun's case to January 28 for plea, and remanded him in custody. The six others will reappear on February 18 for mention. Zhong was remanded in custody, while the rest were granted bail ranging from $10,000 to $50,000.

The case arose from a corruption complaint involving a solicitor, a law clerk and a criminal syndicate alleged to have swindled money from Mainland merchants with bogus standby letters of credit.

The defendants are alleged to have conspired together to use a false document purported to be a standby letter of credit issued by JP Morgan Chase Bank in New York. The alleged offence took place between January 14 and yesterday, when they were arrested.