The former chairman of listed company Yeebo International Holdings misappropriated $66 million and falsified documents to cover up a two-year-long scam, a court heard yesterday. Makie Hui Po-yuen, 46, allegedly used the money to finance various investments and help a friend settle multimillion-dollar debts, the Court of First Instance was told. Hui has denied stealing more than $100 million. The prosecution yesterday outlined its case in relation to $66 million. Hui has denied 26 charges of theft, four of false accounting and two of publishing a false statement. The offences allegedly took place between September 1993 and 1995. Prosecutor Peter Cahill told the jury Yeebo was incorporated in Bermuda and listed on the Hong Kong Stock Exchange. The company manufactures printed circuit boards and liquid crystal displays. He said the investigation began after two directors of the company reported to the Commercial Crime Bureau that more than $100 million was missing from the firm's coffers. Prosecutors say Hui stole the funds from the company's subsidiaries, Yeebo Development Ltd and Yeebo Semiconductors Ltd. Mr Cahill said Hui signed illegal cheques to various firms and persons totalling $66 million. The prosecution said in order to cover up the scam, Hui instructed an accounting clerk, Kitty Ma, to forge documents in support of claims that money was transferred to S. T. Microsystems Ltd, a fictitious firm, and Leinger Enterprises Ltd in valid business transactions. Mr Cahill said Leinger's owner would testify the company never had any dealings with Yeebo. 'The defendant plundered the funds of Yeebo Development Ltd & Yeebo Semiconductors Ltd by using a wall of deceit to veil his activities from shareholders and auditors,' Mr Cahill said. The prosecution will continue to present its case today before Mr Justice Colin Jackson, who is sitting with a jury.