Four men, including an ex-listed company's chairman and deputy chairman, have been jailed for up to four years and 10 months for conspiracy to defraud by the District Court.

In January 2001, the 53-year-old chairman and the 52-year-old deputy chairman fabricated the company accounting records, saying that they had provided a loan of $100 million to the company.

Later, they received the repayment of the bogus loan in the form of cash at $55 million and allotment of ordinary shares of the company amounting to $45 million.

Two other men, aged 41 and 48, were allegedly involved in the dubious banking transactions.

Police arrested them in May 2005 and charged them jointly with one count of conspiracy to defraud.