Additional Chief Metropolitan Magistrate Manish Yaduvanshi denied bail to Indian Human Welfare Society (IHWS) president Neelam Jain, saying that the probe is still on and two more accused in the case are yet to be arrested.
Neelam was arrested by the Delhi Police last month for allegedly receiving in garb of donations the proceeds in an online fraud being conducted by her co-accused to her welfare society's account.
The police said out of the total money credited to the society's account, she used to keep 10 percent of it, while the rest was distributed among other accused.
She had sought bail contending that she had no knowledge of the transactions in IHWS account as it keeps receiving foreign donations.
"Transactions were made through secure gateway provided by a bank to her. To say that she had no knowledge of the transactions appears to be a fallacy," the court said.
It also denied her bail saying the actual amount of money involved in the fraud is yet to be established.
More From This Section
The police had told the court that Rs 1,45,53,482 was diverted to the IHWS account through fraudulent means in connivance with co-accused Tauheed Khan, Yasheen Nagpal and Joseph, while Neelam never attempted to verify the credentials of the ill-gotten money.
The probe agency had registered the case on complaint of "the cluster head of ICICI Merchant Services alleging that it has received information from the representatives of the Bank of America (MBNA), based in UK, that 44 of its customers' cards had been used fraudulently from July 1 to 20, 2010. (More)