Xu Fang/Shanghai Daily news

Zhu Yaoming, once a high-flying stock trader, went to court yesterday on charges that he invested nearly 5 billion yuan (US$731 million) - much of it obtained from fraudulent loans - in an elaborate scheme to manipulate share prices, Shanghai Daily reported.

Prosecutors said Zhu had confessed to the crime and asked for leniency. The Shanghai No. 2 Intermediate People's Court did not render an immediate verdict.