A Sydney lawyer with a gambling problem allegedly siphoned nearly $10 million into his personal bank account from companies linked to billionaire media mogul Bruce Gordon.
Brody Jack Clarke is accused of making multiple fraudulent transactions over the course of nearly a year to September 2017 while employed as a solicitor.
He was arrested on Tuesday and charged with eight counts of dishonestly obtaining financial advantage.
The 35-year-old spent the night behind bars but was granted bail at Central Local Court on Wednesday and was later released.
Two of the transfers - worth nearly $4.5 million and just over $2.5 million - involved funds held by Deutsche Bank on behalf of Mr Gordon's company Birketu.
More than $260,000 in company funds were also allegedly diverted into Clarke's Westpac account in three lots in 2017.
Three other transactions - totalling $2.5 million - were made from WIN Corporation, according to court documents.
Clarke's barrister, George Thomas, told the court on Wednesday his client instructed him to "self-report his conduct" in early October amid civil proceedings in the Supreme Court to which he is a party.
Birketu is taking action against Westpac, Sportsbet, Tabcorp, Betfair and also Clarke.
Mr Thomas said over the past few months Clarke "has essentially been waiting for action to be taken on the back of the self-report".
He noted the 35-year-old checked himself into a psychiatric hospital in 2017 before being discharged.
He had since attended a gambling rehabilitation centre in Canberra, Mr Thomas said. He's also sought treatment from a psychiatrist in Sydney.
The police prosecutor didn't oppose bail, which magistrate Les Mabbutt granted with a number of conditions including a $5000 surety.
Clarke must stay at his parents' house in Port Macquarie and report to police twice a day.
He has also been banned from leaving NSW, drinking alcohol or taking non-prescribed drugs.
Clarke, wearing a dark button-up hoodie, appeared via video link during the brief hearing. His parents were in the public gallery.
Australian Associated Press