Updated at 3.30pm

A 38-year old man has been accused of defrauding the company for which he worked of more than €220,000.

The man, who cannot be named by court order, was arraigned on Saturday and granted bail after pleading not guilty to the charges, with the defence arguing that the man could have been the victim of a frame-up.

Prosecuting officer Inspector Joseph Xerri told the court the accused, formerly an employee at an affiliate marketing company, had accessed more than 1,000 client accounts and diverted funds to an account he controlled.

The company alleges that an email account registered to the former employee was used to carry out the scheme and that he was the only one with access to the relevant accounts, which the accused denies.

Defence lawyer Manuel Mallia argued that his client had fully cooperated with the police and had been able to provide explanations for all the issues raised during a four-hour questioning on Friday.

Dr Mallia said documents allegedly signed by the accused had been falsified and that parts of the allegation still required further investigation, including with international organisations whose services were used.

“This is not a clear-cut picture. There are still many pieces that do not fit together,” he said.

Magistrate Yana Micallef Stafrace accepted the defence’s request for bail against a deposit of €10,000 and a personal guarantee of €75,000. The court also ordered the freezing of the accused’s assets.

Lawyers Stefano Filletti and Maurice Meli appeared parte civile.