Police have arrested a 48-year-old man in connection with fictitious transactions of more than $530 million in a public-listed company.

On July 24 last year a Hong Kong public-listed company self-liquidated after discovering a shortfall of RMB840 million in the bank balance of its Mainland subsidiaries. The appointed provisional liquidator found accounting irregularities and told Police.

Officers arrested the 48-year-old man of the listed company today. Four other suspects - three men and a woman, aged 33 to 50 - were arrested between August 2006 and February.

The five will be charged with 23 offences and will appear in Eastern Magistracy September 19.