Police remanded Pickett in custody on Sunday - a day after he played in the Tigers' 15-point win over Fremantle at Optus Stadium - alleging he was involved in commercial burglaries between December and January.
The 31-year-old appeared in the dock in Perth Magistrates Court on Monday, wearing a black sweatshirt.
He only spoke to confirm his name and was not required to enter pleas.
A police prosecutor told the court the alleged offending by Pickett and others involved a series of commercial burglaries resulting in the theft of more than $380,000 in Australian and foreign currencies from within safes.
Pickett is facing 12 charges including four counts of aggravated burglary, three counts of stealing and three counts of criminal damage.
Prosecutors opposed bail, saying there was a risk Pickett would reoffend if he was released.
Pickett's lawyer David Manera said the prosecution case rested largely on allegations deposits were made into his bank account by his co-offenders and that a camper-van rented in his name was driven interstate by the other men.
Magistrate Erin O'Donnell said the allegations were serious but she was confident Pickett did not present a significant flight risk.
She granted bail on the condition Pickett resides at his address in the Melbourne suburb of Reservoir, reports weekly to a local police station, does not interact with his alleged co-offenders and provides a $50,000 personal surety.
He is due to return to court in August.
His manager Anthony Van Der Wielen declined to comment outside court.
In a statement on Sunday, he said Pickett was entitled to the presumption of innocence.
"We understand and respect the public's interest in this matter but we also implore all to respect the presumption of innocence until proven otherwise, and to allow the legal proceedings to follow their due course without prejudice," Van Der Wielen said.
Pickett famously made his AFL debut in the Tigers' 2019 premiership triumph after being drafted as a mature-aged recruit.
Richmond released a statement on Sunday night, confirming their player had been charged.
"The club will continue to support Marlion and his family while these matters are dealt with," the club statement said.
"As this matter is now before the courts, the club will not be making any further comment."
Pickett has played 70 games for the Tigers and is out of contract at the end of the 2023 campaign.
In 2019 he became the first VFL/AFL player in 67 years to debut in a grand final and the first since 1926 to win a flag as Richmond belted GWS by 89 points.
He won a second premiership with the Tigers in 2020.
