Former Allied Group chairman Lee Ming Tee was released on $25 million bail yesterday after appearing in court to face nine charges of conspiracy to defraud and of deception, alleged to involve about $700 million. Lee, 58, stood in the dock at Eastern Court accused of offences prosecutor John Reading said were committed between July 1990 and March 1992. Magistrate Garry Tallentire ordered the Malaysian-born tycoon to put up $15 million in cash and to provide two sureties of $5 million each to secure his release on bail. The total is one of the highest sums ever paid in Hong Kong to secure bail. Lee is accused of conspiring with Ronald Tse Chu-fai, Chan Chun-on and other people to defraud Hong Kong's stock exchange, the Securities and Futures Commission, and existing and potential shareholders and creditors of Allied Group. Mr Reading said Lee would appear in court again today along with Tse. Tse is a former Allied finance director, who is expected to be accused of 22 charges, among them the nine faced by Lee. Tse was extradited from Australia and arrived in Hong Kong late last night, police said. No plea was taken from Lee yesterday. Mr Reading said the prosecution did not oppose bail although the alleged conspiracy to defraud charges involved 'publicly listed companies and a sum close to $700 million.' Lee was ordered to surrender his Australian passport as part of his bail conditions. He is also charged with conspiracy to falsify and publish accounts, and with obtaining listings and permission to deal in shares on the stock exchange by deception. Mr Reading said Lee, who resigned from Allied in 1993, received medical treatment after complaining of chest pains after his arrest. Lee was discharged from hospital yesterday afternoon. The case was brought before court just before 4pm. Lee's sureties were his business associates Shelly Chong and Akihiro Nagahara.