Police have launched a probe into the theft of MVR 1.9 million from a private company by a group.

Police have arrested Ahmed Nashid, 38, in relation to the theft and charged him with trespassing, damaging property and stealing.

He was produced before the Criminal Court on Monday and remanded in judicial custody for 15 days because the police had provided evidence that he had committed the alleged crimes against him, which included statements of witnesses, CCTV snapshots, intelligence reports and bank statements.

The Court said that he should be kept in custody as releasing him on bail would endanger the safety of the community.

The Court's order further stated that several persons, including Nashid, may have been involved in the crime.

"It has been pointed out by the CCTV snapshots submitted that he was present at the spot of the incident and those involved in the robbery had given him a bag which he had carried to his residence," the Court said in its order.

According to the Court order, evidence provided by the police suggests Nashid's involvement in renting out the bike used by the accused on the day of the robbery.

The Prosecutor General's office submitted a written application to the Court stating that the investigation period has been extended, the order said.