Chief Justice Terence Higgins revoked Adi Narayan's bail at a sentencing hearing in the ACT Supreme Court on Wednesday.

Narayan, of Forde, has pleaded guilty to five charges relating to 106 different occasions he illegally transferred money into accounts controlled by him or his friends.

The court heard Narayan used his position as financial controller of construction company GE Shaw to siphon off $987,000 from November 2008 to February last year.

The Crown said the other recipients would pay Narayan half the money in cash and he would then spend the ill-gotten gains on gambling and alcohol.

The court heard Narayan had been in the grip of a mania during the three-year period and was convinced he was a financial genius who had saved his employer millions of dollars.

Voices he heard, via auditory hallucinations, told him the company owed him money as a result.

Narayan avoided detection for three years as he had sole control of the company's financial system.

But the deception was uncovered by a temporary employee who covered for the defendant when he was ill.

Police had initially investigated a smaller theft but further inquiries exposed many more suspicious transactions.

The court heard more than $250,000 had been paid back to GE Shaw after it began civil proceedings against Narayan's alleged co-conspirators.

Chief Justice Higgins revoked Narayan's bail, saying a jail term was inevitable.

The judge will hand down sentence next month.