No bail for man accused of worldwide scam

One of four men charged over an alleged international investment scam has been refused bail over fears he could try to flee the country.

Han Xiao, 24, was arrested while waiting for a one-way flight to Hong Kong in November, shortly after Australian Federal Police officers arrested other alleged scammers.

He appeared via videolink in Sydney's Downing Centre Local Court for a bail review on Wednesday.

The Crown opposed bail, concerned Xiao would not appear for his next court date or could interfere with witnesses or other evidence.

Despite claims from his defence that Xiao's role in any alleged scam was unclear, magistrate Alison Viney said he appeared part of a larger criminal organisation and not at its lowest level.

"He is actively recruiting and directing others," Ms Viney said.

He had given advice to others about how to skirt identification requirements as well as convincing a number of Samoan nationals to create bank accounts and hand over control of them to others.

Xiao was also spotted "feeding cash" into ATMs at Haymarket and World Square in Sydney's CBD in the weeks before his arrest, with similar amounts then showing up in accounts linked to one of his co-accused, Ms Viney said.

Xiao is charged with one count of dealing in proceeds of crime worth $10 million or more, which carries a maximum 15 years' imprisonment.

His co-accused Zimo Tang, 27, is charged with the same offence and had his case briefly mentioned in court on Wednesday.

Two other men arrested in connection with the investigation are scheduled to face court on Thursday charged with recklessly dealing with proceeds of crime.

The AFP has alleged the four men were involved in a sophisticated scam using various social engineering techniques, including the use of dating sites, employment sites and messaging platforms, to gain victims' trust.

The victims were then allegedly directed to fraudulent and legitimate investment applications, dealing in foreign exchange and cryptocurrency, that have been maliciously manipulated to show a false positive return on investments.