India, April 23 -- A special court on Tuesday rejected the bail plea of Lallan Singh, the Mulund resident arrested for allegedly helping the Ukranian masterminds of the Torres jewellery fraud to launder crores of rupees collected from unsuspecting investors, through five shell companies.

Apart from the nature and gravity of the offence, and the active role played by Singh, Special Judge RB Rote also took into account his criminal past and said it would therefore not be appropriate to release him on bail.

"There are serious allegations that the applicant has assisted the foreign national accused and siphoned off the proceeds of crime with the help of his shell companies," the court said.

The 59-year-old Mulund resident was arrested on F...