He is accused of fleeing New Zealand with $6.6 million - and still has enough money to put up a bond.
Accidental millionaire Leo Gao was arrested in Hong Kong on Thursday.
He appeared in the Eastern Magistrates Court in Sai Wan after being captured and requested bail - his lawyer offered a $16,000 bond, as well as a $7000 personal guarantee and the promise Gao would live in a hotel. The application was rejected.
The South China Morning Post reported Gao wore a white T-shirt and jeans in court yesterday, and looked "nothing like the millionaire who had lived it up in Macau and Hong Kong".
The paper reported Gao had been working in Shenzhen as a financial clerk.