Michael Anthony Papandrea, 54, was arrested together with solicitors Ben Aulich and Bridie Harders, who are both partners in top Canberra law firm Aulich, during a series of raids in December.

Police alleged at the time that the trio were part of a scheme to buy a business and use it to clean "large quantities" of tainted cash.

Detective Superintendent Scott Moller has described those arrested as "professional facilitators" of organised crime.

When Mr Papandrea made his most recent appearance in the ACT Magistrates Court on Monday, prosecutor Skye Jerome withdrew charges of money laundering, dealing with more than $100,000 in the proceeds of crime, and recruiting a person for criminal activity.

The court heard the accountant would plead not guilty to a fresh charge that, between May and December 2020, he conspired with Mr Aulich, Mrs Harders and a person known to them as Alex Torosian to launder the proceeds of crime.

"Torosian" is understood to have been an undercover police officer who posed as a client of the Aulich law firm for about eight months as part of an elaborate investigation.

Ms Jerome told the court that about 15 per cent of the brief of evidence was still outstanding, with the prosecution waiting on material including a 40-page statement from a police officer and eight transcripts of taped conversations.

The court has previously heard that the undercover operative covertly recorded numerous exchanges with the defendants.

Mr Papandrea's lawyer, Kamy Saeedi, said on Monday that while the majority of the brief of evidence was apparently ready, he had not received any of it.

He said he was expecting part of it to be served in about a week, but the prosecution was unlikely to make all of it available until next month.

Magistrate Louise Taylor therefore adjourned Mr Papandrea's matter to April 27, though the 54-year-old will also briefly return to court this Wednesday to seek variations to his bail conditions.

The cases of Mr Aulich and Mrs Harders have previously been listed to return to court on April 12.

They have pleaded not guilty to the same conspiracy charge levelled at Mr Papandrea, while Mr Aulich has also denied recruiting the accountant to engage in criminal activity.

The lawyers were further accused of conspiring to deal with more than $100,000 in the proceeds of crime, but Ms Jerome has advised their business partner and solicitor Peter Woodhouse that the charge will be withdrawn at the pair's next appearance.

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