<h1>Former mutual fund head denied bail in alleged money laundering, misappropriation and insider trading causing crores in illegal gains</h1> A Mumbai special court denied bail to a former mutual fund chief trader and fund manager in a money laundering case, finding prima facie material of misappropriation of investor funds and noting that economic offences harm the socio-economic fabric and financial systems. Authorities allege the accused used insider information and remote working arrangements to generate illegal profits of about Rs 30.56 crore and launder roughly Rs 91 crore through family accounts to buy properties domestically and abroad. The defence said alleged gains were disgorged by regulators, but the court held money laundering is a distinct offence and refused bail due to ongoing investigation and risks of tampering or influencing witnesses.