Nicholas Ian Schofield, 46, pleaded guilty in the ACT Magistrates Court to six counts of fraud from his former employer, Indigenous Business Australia, in 2013.

But Schofield did not enter a plea to a count that alleged the theft of $371,500.

Magistrate Beth Campbell remanded Schofield in custody to reappear in court next month.

He is expected to enter a plea to the outstanding charge and be committed to the ACT Supreme Court on that occasion.

Court documents allege that Schofield stole $1.415 million via eight fraudulent transactions between May 9, 2013, and August 18, 2014.

Fairfax Media has previously revealed that the IBA – which helps kickstart Indigenous businesses – is suing Schofield in a bid to recover the stolen funds.

Schofield started work at the IBA in January 2013 as a systems accountant to help the government body implement a new finance system.

He was then promoted to manager of finance systems in April 2014 – taking home $113,563 a year – and had full access to transactions.

Court documents said Schofield then manipulated the system by using the names of IBA clients to make payments into his own bank account.

The IBA identified the fraud and started an internal investigation in August 2014.

Suspicion did not immediately fall on Schofield, who resigned in January but agreed to stay on in order to help resolve the dubious transactions.

But on January 28, Schofield called his office and said: "I am not coming into work today. I took the money. I have $300,000 left with me that I will repay."

When questioned by his boss on the full amount stolen, he replied: "Yes, whatever the amount is, I took it and I have $300,000 left, which I will repay."

Police raided his Brisbane home and seized an Aston Martin Vantage and a Mini Cooper.

Audits of his bank account showed significant spending on luxury items, including $76,000 on travel, $17,000 on jewellery, $17,000 on designer fashion, and $12,800 on wedding expenses.

He also transferred more than $233,000 overseas.

Schofield also made a number of admissions during a police interview, including that he sent tens of thousands of dollars to his wife and son in the Philippines, paid out the mortgage on an Adelaide investment property, and bought a $10,000 dolls house for himself.

He denied he had been responsible for the $371,500 transaction.

Schofield told police that he thought that it was "a bit sad" that the fraud had been so easy.