Christine Jiaxin Lee, 21, was arrested at Sydney Airport on Wednesday, trying to flee the country allegedly spent millions on handbags and luxury goods after $4.6 million was mistakenly transferred into her bank account four years ago.
Christine Jiaxin Lee was mistakenly transferred the money into her Westpac bank account as an overdraft four years ago when she was just 17.
The chemical engineering student, who was attempting to flee to Malaysia when she was picked up by Australian Federal Police at Sydney Airport on Wednesday night, still allegedly owes $3.3 million to her bank.
She appeared at Waverley Local Court on Thursday after being charged with dishonestly obtaining financial advantage by deception and knowingly dealing with the proceeds of crime.
Court documents revealed she is alleged to have committed the offences on multiple occasions between July 2014 and March 2015.
It is alleged she failed to notify the bank that she was not entitled to the money.
The court heard she knew police were attempting to make contact with her and she obtained an emergency Malaysian passport in order to leave the country.
She was granted bail for $1,000 and faces strict bail conditions, with Magistrate Lisa Stapleton agreeing with the prosecution that her attempts to flee Australia meant that she posed a flight risk.