Vincent Vella (28), a former administrative clerk at a Malta gaming company, appeared before a Malta magistrate this week, charged with fraud involving Euros 198 000, which allegedly took place over a two year period.
The Times of Malta reports that Vella was accused of money laundering, misappropriation and defrauding the company of the large sum of money in question.
Although Vella's questionable conduct has allegedly been going on for the past two years, it was only last weekend that his fraudulent activities came to light and the police called.
Investigators believe he transferred money to himself from the company, diverting it from money owed by clients.
During the arraignment, Vella pleaded not guilty and was remanded in custody.
Parte civile lawyer Giannella Caruana Curran asked the court to ban the publication of the company's name to limit the damage it had already suffered, a request upheld by Magistrate Audrey Demicoli. The case will be heard in full at a later date.