An arrest warrant has been issued for former Surge Recreation Holdings Chairman Li Tat-ting who failed to report for bail on June 20.

The 52-year-old was arrested by the Independent Commission Against Corruption for embezzling $2 million from the company. Magistrate William Lam issued the warrant yesterday.

Meanwhile, two other people have been charged in connection with the case. Surge consultant Tyrone Chan, 42, and his brother Chan Ting-kwok, 57, appeared in Eastern Magistracy today. They respectively face a count of theft, and of dealing with property known or believed to represent proceeds of an indictable offence.

No pleas were taken and Magistrate Allan Wyeth adjourned the case to July 20, pending legal advice. They were granted $20,000 bail each.

Tyrone Chan, together with Li, is alleged to have stolen $2 million from Surge on August 14, 2002. Chan Ting-kwok allegedly dealing with the money between August 17 and October 28, 2002.