No bail for NSW child prostitution accused

A Sydney man accused of sexually assaulting and prostituting a teenage girl over an 11-month period has been denied bail.

The 42-year-old Bondi resident, who cannot be named for legal reasons, is facing 19 charges for offences alleged to have occurred in 2008 and 2009, including procuring a child for unlawful sexual activity and obtaining benefit from child prostitution.

The Central Local Court on Tuesday heard some of his charges carry a maximum penalty of life in prison.

"This is a most heinous example of sexual exploitation and abuse of the child," Prosecutor Paige Madden said.

"The applicant made admissions which are captured on (a) listening device."

Police have alleged the man set up an online profile for the girl, who was 14 when the offences began, and was responsible for premises where child prostitution took place.

He is also accused of having intercourse with the teenager without her consent on numerous occasions, including once when an unidentified man was present and another when her liberty was deprived.

Defence lawyer Arthur Aguirre said the man stood to lose his long-term employment at a major bank and was willing to pay $200,000 to secure release.

Ms Madden said the prosecution had a strong case which included a photo of the girl in her school uniform that was found during the execution of a search warrant.

She said police were still transcribing recordings and alleged there were concerns some of the money offered as surety could have come from the girl's prostitution.

A magistrate found exceptional circumstances did not exist to justify bail.

The matter is due back in court in June.