The Serious Fraud Office says it has charged a man who tried defrauding the Covid-19 wage subsidy system of nearly $1.9 million.

In the first wage subsidy fraud case of its type, the SFO said Auckland man Hun Min Im already allegedly received $600,000 out of $1.88 million he claimed.

The fraud investigators accused Im of using applications with false information to try and get the subsidies.

He faced 42 fraud charges and has pleaded not guilty.

In a statement today, the SFO said ten other investigations by the SFO were underway.

"The Ministry of Social Development (MSD) referred multiple allegations of serious abuse of the subsidy to the SFO last year following its own extensive investigations," the agency said.

"The theft of public money is a serious crime which diverts government funds away from where they're most needed," SFO Director Karen Chang said.

"This is particularly acute in times of crisis, such as during a global pandemic," Chang added.

Im's next scheduled court date is a review hearing at Auckland District Court on November 23.