A 70-year-old former Hong Kong leader has been officially charged with misconduct after a three-year investigation found him guilty of accepting bribes and gifts from business moguls.

On Monday, Donald Yam-Tsang, the former Chief Executive of the city, was charged with two instances of misconduct in public office by the Independent Commission Against Corruption (ICAC).

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Tsang, who admitted to accepting gifts in the form of luxury trips and private jets, is facing charges because he failed to make a declaration of interest to the Executive Council. Tsang has maintained his innocence, saying that the gifts resulted in no conflict of interest in his position as leader of the city.

According to the Department of Justice and the ICAC, Tsang refused to disclose his interests regarding the lease of a residential complex in Shenzhen. During Executive Council meetings, Tsang also refused to admit his involvement in negotiations regarding the lease of the residential unit to a major shareholder of Wave Media Limited. Members of the Executive Council looked into the company's license and its application.

Tsang said he worked under the parameters of the law during his public service career spanning over 40 years. He added after his appearance in court that he will cooperate with the ICAC in its investigation because his conscience is clear.

"I have cooperated fully with the ICAC investigation. My conscience is clear. I have every confidence that the court will exonerate me at the end of the proceedings," he said.

Tsang, who fell from grace in 2012 after his seven year tenure as leader of the city, has since been released on a HK$100,000 bail following his appearance at the Eastern Magistrates' Court.

The case, arguably the most high-profile corruption trial the city has witnessed in years, has shocked many. Some have criticized the slow pace of the trial. However, officials have assured the public that there will be no political favoritism.

Secretary for Justice Rimsky Yuen Kwok-Keung assured "everyone that there are no political considerations." He added that "The decision has been made independently by the Department of Justice...there is also no political persecution, as has been suggested by some." Rimsky stressed that the decision to prosecute Tsang was in accordance with Article 63 of the city's Basic Law.

Tsang's former deputy Rafael Hui was jailed for corruption in December for seven and a half years. Hui was found guilty of five graft charges. Officials ascertained that he accepted bribes from Hong Kong property tycoon Thomas Kwok and his brother Raymond. Thomas has since been sentenced to five years in prison for bribery. Raymond was cleared of all charges.

TagsDonald Tsang, Hong Kong, Donald Yam-Tsang, Independent Commission Against Corruption (ICAC), Rafael Hui