A former vice-chairman of the stock exchange was likened to a traffic policeman who slipped extra cash into his pocket when she accepted $1.6 million in 'gifts', the High Court heard yesterday. Chen Po-sum, 65, is facing eight bribery charges in connection with $1.6 million she allegedly solicited and accepted in relation to the transfer of A-share stock exchange seats in 1993 and 1994. She denies the allegations. Director of Public Prosecutions Peter Nguyen said the practice of 'commissions' or 'fees' for introducing a prospective buyer to a member who was trying to unload a 'seat' was not uncommon. It is alleged Chen received $800,000 for supporting a 1994 bid by the Japanese securities giant, Nomura Securities (Hong Kong), to buy a seat on the exchange from On Wah United Securities Co. It is also claimed she accepted another $800,000 for the transfer of three A shares from Shing On Securities to Emperor Securities. Chen was the vice-chairman of the exchange and the convenor of the exchange's membership committee when she allegedly took the 'gifts'. The solicited money was 'an inducement or reward for her supporting these applications'. 'If ever there was an inducement to do your job in a certain way, this was it,' Mr Nguyen said. Application approval for A-share seats by current seat-holders is considered 'a rubber-stamp'. Although one committee member voted against the Emperor application, Mr Nguyen said it 'would defy belief' that the negative vote was from Chen. Mr Nguyen said Chen 'was not a one-man band, but she played an active role in the approval'. He likened her to a traffic policeman who stops a car and takes money from the driver even though the officer never intended to issue a ticket in the first place. The jury heard of the 'elaborate' route the 'gifts' travelled, going through lawyers and commercial bank accounts in company names before it was allegedly received by Chen. Former K and L Group managing director Daniel Lai Kwok-kuen described Chen as 'a lady of absolute integrity'. Mr Lai acted as an intermediary between Chen and Nomura Securities (Hong Kong) boss Haruyuki Kanda. Chen is on $1.5 million cash bail and $1.5 million sureties. The trial before Mr Justice Pang Kin-kee continues today.