Troubled Yeebo (International Holdings) alleges it has evidence suggesting former chairman Makie Hui wrongly used the company's funds to buy properties through two private companies. Yeebo said in a newspaper advertisement published today that in November 1993 it paid out $2 million as a deposit to Leinger Enterprise Company under what it said was a supposedly fake purchase order. The transaction was approved by Mr Hui, it said. Yeebo said the money had been paid to a solicitor acting for the vendor of a property in which Mr Hui and his wife live, on Chun Fai Road, Hong Kong. It said that in January 1994, an outflow of $1.1 million from Yeebo was disguised as payment of a deposit to ST Microsystems upon receipt of a supposedly fake purchase order. Yeebo said Microsystems was a fictitious company. Mr Hui had approved the transaction. It said the money was channelled to Chinacreate Property, Mr Hui's private company, to buy an office site in Gaylord Commercial Building in Wan Chai. Yeebo said it had filed claims against Mr Hui's two private companies - Spring Most and Chinacreate - saying it was entitled to trace its assets into the two properties which had been purchased through 'the wrongful use of moneys belonging to the company.' It said it intended to recover sums from the two companies 'which might have been misappropriated by Makie Hui and used to pay for the properties.' Yeebo previously had filed claims against Mr Hui and nine other parties for $217 million in damages for alleged fraudulent activities it says were perpetrated against the company. Yeebo said it had heard that Mr Hui intended to sell the residential flat, and had secured an undertaking from Mr Hui's legal adviser that any proceeds would be held in an interest-bearing account of the adviser. The flat is valued at $32.5 million. Yeebo has sought a court injunction prohibiting Mr Hui from disposing of any of the company's assets. Yeebo urged shareholders not to vote to re-appoint Mr Hui to the board, saying this would prompt banks to call-in loans and would result in Yeebo's liquidation.