Alex Una, 38-years-old, from Gogoi village, Rigo, Central Province, and his lawyer went before the court with a bail application last Friday.
That application was refused today by Justice Panuel Mogish because he was of the view that no good reason was put forward by Una to support his bail application.
The judge also raised concerns about the substantial amount of money that was stolen which is yet to be recovered by police.
“A staggering amount of K1.195 million was stolen from Tropicair staff. There is no evidence that all the monies have been recovered.