Former Allied Group finance director Ronald Tse Chu-fai was granted bail yesterday after being extradited from Australia to face 22 charges in a case in which more than 140 witnesses are expected to be called. Tse, an Australian citizen, stood in the dock for an hour to listen to his charges being read out at Eastern Court. He was released on $10 million bail by Magistrate Garry Tallentire. The 46-year-old was ordered to secure $2.5 million cash bail, a $2.5 million surety and to enter into his own recognisance of $5 million before being able to walk free from court. His defence lawyer Alexander King said: 'He is not in a position today to offer to the court sureties, but it can be assured that there are potential sureties.' Tse was required to report daily to Shau Kei Wan police station and not to interfere with any of the 141 intended witnesses. Witnesses include stock exchange chairman Lee Hon-chiu, former stock exchange chief executive Francis Yuen Tin-fan, former stock exchange deputy chief executive Herbert Hui Ho-ming and Lippo chairman Stephen Riady. The accusations involve seven charges of conspiracy to defraud, nine charges of conspiring to falsify accounts, three charges of obtaining services by deception and three of gaining property by deception. The charges mainly concern four groups of transactions. In just three of the 22 charges was Tse being charged without co-conspirators, Mr Tallentire was told. Tse allegedly conspired with other persons to defraud the stock exchange, the Securities and Futures Commission, and Allied Group shareholders and creditors. He also faces charges concerning obtaining listing and permission to deal in shares from the stock exchange, of gaining share certificates by deception and of falsifying accounts. Former Allied Group chairman Lee Ming Tee faced nine of those charges jointly with Tse, prosecutor John Reading said. Tse, who has been in custody in Australia for eight months, finally agreed to return to Hong Kong and arrived late on Wednesday. He began residing permanently in Australia in July 1994. The case was adjourned, pending further inquiries, to September 23. Lee was released on Wednesday, putting up $25 million bail.