A 40-year-old man, Falola Oluwaseun, on Monday appeared before an Ile-Ife Magistrates’ Court in Osun, over alleged N2.4 million fraud.
According to the prosecutor, Insp. Sunday Osanyintuyi, the defendant committed the fraud sometime in March 2019 at Ile-Ife.
The defendant, however, pleaded not guilty to the charge.
Osanyintuyi said that the defendant fraudulently converted N2.4 million belonging to one Mr Oluwagbemiga Owolabi to his own use.
He submitted that the defendant cheated Owolabi, the Chairman of XELA Properties and Investment Company Ltd., Mayfair, Ile-Ife, by failing to give him the sum for a land situated on Modomo Junction on the Ife/Ibadan Expressway.
Magistrate A.I. Oyebadejo granted the defendant bail in the sum of N500, 000 with two sureties in like sum.
Oyebadejo directed that the sureties must be gainfully employed, swear to affidavit of means, reside within the court’s jurisdiction and have evidence of tax payment.
The case has been adjourned until Sept. 9 for substantive hearing.