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January 18, 1988

Ronald Li, the former chairman of Hong Kong's stock exchange was accused of taking a bribe of 1.1 million cut-price shares to help a company list its stock on the British colony's bourse. Li, 58, was charged with accepting shares of Kumagai Gumi-Hong Kong, a local company controlled by the big Japanese construction firm Kumagai Gumi, for "showing favor or forbearing to show disfavor" when its stock went public in May. He did not enter a plea and he will appear in court again on April 14.

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