The former chairman and chief executive officer of a listed company has been jailed six years and disqualified from being a director for 12 years for false accounting.

The Court of First Instance heard the 54-year-old man made a fictitious acquisition of another company's shares involving $300 million between 1998 and 1999.

The company was ordered to be wound up in August 2000 and the liquidators reported the case to Police in January 2001. The man was later arrested when he returned from Macau to Hong Kong on April 30, 2003.