A 58-year-old Estate agent, Ahmed Abdullahi, on Wednesday appeared before an Igbosere Magistrates’ Court, Tinubu, Lagos, for allegedly defauding Instant Housing and Rental Apartment company of N15 million.
Abdullahi, whose address was not provided, is facing a three-count charge of conspiracy, fraud and stealing.
He pleaded not guilty to the charge.
The Prosecutor, Insp. Ajaga Agboko, told the court that the defendant committed the offences with some others, still at large, on March 15 at Tokunbo Adesanya Close, Lekki Phase 1, Lagos.
Agboko said the defendant obtained the N15 million from the complainant, Mr Ubi Ekpapong, for some apartments for his company, which he failed to deliver.
He said the defendant coverted the money to his personal use.
Agboko said the offences contravened Sections 287, 314 and 411 of the Criminal Law of Lagos State, 2015.
Defence Counsel, Mr H. C. Chukwu, urged the court to grant his client bail on liberal terms.
The Magistrate, Mr Azeez Alogba, granted the defendant bail in the sum of N1 million with two sureties in like sum.
Alogba said the sureties must be gainfully employed, and show evidence of tax payments to Lagos State government.
He adjourned the case until July 19 for trial.