A 39-year-old man, Abiodun Abioye, on Thursday appeared before an Abeokuta Chief Magistrates’ Court in Isabo, for allegedly obtaining over N2.8 million on false pretence.
The defendant, whose residential address was not provided, is standing trial on a two-count charge of fraud and stealing.
The prosecutor, Insp Olu-Balogun Lawrence, told the court that the defendant committed the offences between 2018 and 2019 at Lafenwa and Itoko area in Abeokuta.
Lawrence alleged that the defendant collected N869, 000 from Mr Raji Jamiu and N1.98 million from Mrs Ogunbunmi Oluwagbemiga on the pretext of helping them to purchase UBA, First Bank and Oando oil shares.
He said the defendant who did not purchase the shares, refused to refund the money.
The prosecutor said the offences contravened Sections 419, and 390 of the Criminal Laws of Ogun, 2006.
The defendant, however, pleaded not guilty to the charge.
The Chief Magistrate, Mrs I.O. Abudu, granted the defendant bail in the sum of N500, 000 with two sureties in like sum.
Abudu, said that the sureties must reside within the court jurisdiction with one year evidence of tax payment to Ogun Government.
She adjourned the case until June 29, for hearing.