A Liverpool man has been granted bail by Deputy High Bailiff Alastair Montgomerie, but he has been told he must be electronically tagged.
Nineteen-year-old Jamie McArdle, of Norris Green, faces six counts of acquiring criminal property.
Other conditions are that he must live at an address in Ramsey's Waterloo Road, observe a 10pm to 8am curfew, report daily to the town's police station and not associate with any of his co-defendants.
He will appear in court again on February 8.
Isle of Man faces renewed scrutiny ahead of Moneyval inspection
Concerns raised over anti-money laundering effectiveness as international assessment approaches
Mobile classroom proposed for UCM horticulture compound
Application aims to reduce disruption and improve access for practical lessons
Chance to learn more about career opportunities on Island
Registration open for young adult and graduate fair
Report highlights risks of environmental crime entering financial system
Financial Intelligence Unit urges greater awareness after survey finds low preparedness across regulated sector