Two women stole an $8999 gold necklace and a $4499 gold pendant from a jewellery store before escaping in a stolen BMW, police allege.
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ACT Policing in a statement said a 30-year-old Chisholm woman was arrested in relation to the theft from a Tuggeranong store on Monday afternoon.
The pair allegedly left in a stolen grey BMW, which had a male passenger in the back seat.
The woman was arrested about 6.30pm on Tuesday after police executed search warrants at residences in Chisholm and Monash.
Donna Jean Pricsina appeared in the ACT Magistrates Court on Wednesday charged with aggravated robbery and riding or driving a stolen car.
She pleaded not guilty to both charges.
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During the defendant's bail application, defence lawyer Emilia Currey said the court would have concerns about Pricsina's recent sentencing in the Galambany Circle Sentencing Court and the allegations of the offending.
However, Ms Currey said that taken to its highest, the alleged facts of the case so far was "at least a CCTV identification case only".
She said there was no evidence or indication that any of the property allegedly taken was found at the premises where the defendant was arrested.
The "significant support in place in the community" was also cited as a reason for bail.
This included the defendant attending Canberra Recovery Services three days a week and her working as a stonemason every other day.
The court also heard Pricsina was meeting with a support worker at a women's group twice a week for rehabilitation purposes.
In opposing bail, a prosecutor said the alleged robbery was a serious example of the offending and that the defendant's recent sentencing - being December 16 - should cause concerns for the court.
"Your honour would have serious concerns that there's no likelihood of complying with any bail conditions," the prosecutor said.
"Adding to that, the multiple convictions for driving whilst disqualified and failing to appear further suggests there's a disregard for court orders.
"Nothing so far has deterred the defendant, including her support scheme in the community."
Chief magistrate Lorraine Walker refused bail, saying that while the strength of the evidence appeared to be based on a recognition case, it also appeared to be a reasonably strong case.
"Noting, however, there's always some difficulties associated with recognition or identification matters," Ms Walker said.
She said if the case were proven, it was likely to result in a jail sentence because of the seriousness of the allegations and Pricsina's criminal history.
If convicted, the defendant would also be in breach of a suspended jail sentence.
"There would be appear to be little by way of further community support which could be offered which might reduce the risk of further offending," Ms Walker said.
The case is set for return on February 22. Enquiries into the location of the jewellery and the stolen BMW, as well as the accomplices, are continuing.