Frank John Fischetti, 52, has been committed to stand trial in the ACT Supreme Court facing three counts of attempting to obtain property by deception and one count of attempting to obtain financial advantage by deception relating to a fraudulent bank loan application for about $1.4 million to buy a Nicholls property.

Mr Fischetti was forbidden from dealing with property or being the officeholder of a company after filing for bankruptcy in 2010, but allegedly used several aliases and false birth dates to establish a company and attempt to obtain a bank loan to purchase a home in Nicholls, according to police facts before the court.

Using the alias Frank Divito, Mr Fischetti allegedly persuaded a Canberra business owner to invest a total of $195,000 since November 2013 in several fabricated property deals on the Gold Coast in Queensland, Seaforth in NSW and Nicholls by promising big returns.

On one occasion, police allege, Mr Fischetti told the man he was looking to buy Daydream Island in the Whitsundays for $35 million and asked him to invest towards the $500,000 he needed to secure a loan, but the deal did not go ahead.

Police also allege Mr Fischetti fraudulently constructed loan applications overstating his financial position, using the expertise and names of third parties, including former business associates.

Police seized loan applications for multiple financial institutions in the names of known associates and companies of Mr Fischetti during a search of his Franklin home last July.

He was arrested at his home last August.

Mr Fischetti continues to receive Centrelink benefits, which police allege he might not be entitled to after declaring assets of $500 when he first applied in 1991.

Mr Fischetti, who has pleaded not guilty, had his bail continued when he appeared before the ACT Magistrates Court on Wednesday.

He must remain living in his Franklin home before he faces the Supreme Court next month.