A 39-year-old man, Ajayi Olanrewaju, was on Wednesday arraigned before an Iyaganku Grade ‘A’ Customary Court over alleged N12 million fraud.
Mr Olanrewaju, a car dealer whose address was not given, is being charged with fraud and stealing.
The Prosecutor, Inspector Phillip Amusan, said that the defendant committed the offence on August 5, at Adamasingba area of Ibadan.
Mr Amusan said that Olanrewaju criminally collected an unregistered Hyundai Sonata Saloon car valued N12 million from the complainant, Abeeb Bakare.
He said that the defendant took the vehicle on the pretext that he would sell it and remit the money into the complainant’s account.
The prosecutor said that Mr Olanrewaju sold the vehicle and converted the money to his personal use.
He said the offence contravened Section 390(9) Section 419 of the Criminal Code Laws of Oyo State, 2000.
The defendant pleaded not guilty to the charge.
The Magistrate, Mojisola Aworemi, granted the defendant bail in the sum of N1 million with two sureties in like sum.
Ms Aworemi adjourned the matter until October 2, for hearing.
(NAN)