Three people have denied being involved in an 814,000 fraud at Padarn Bus, Llanberis, Gwynedd, which went into liquidation in May 2014 with the loss of 84 jobs.
They are accused of claiming the firm carried more concessionary passengers than was true.
John Hulme, 54, from Caernarfon is charged with fraud involving 496,126 between July 2011 and December 2012.
Anne Price, 28, from Llanberis and Darren Price, 44, from Llanrug are accused of fraud involving 318,524 between January 2013 and February 2014.
All three also face a charge of false accounting.