A 40-year-old man, Clement Vincent, was on Tuesday arraigned before a Kaduna Magistrates’ Court for allegedly defrauding his business partner of N7 million.
Vincent, who resides in Narayi, Kaduna, is facing a one-count charge of fraud, to which he pleaded not guilty.
The Prosecutor, Insp. Chidi Leo, told the court that the defendant allegedly committed the offence in March at Nasarawa Road, along Ahmadu Bello Way, Kaduna.
Leo said the complainant, Mr Gabriel Julius, gave the defendant N7 million to invest in their farm business, but he allegedly converted the money to personal use.
He said all efforts by the complainant to recover the money proved abortive, adding that the offence contravened the Kaduna State Penal Code, 2017.
The Defence Counsel, Mr James Haruna, urged the court to grant his client bail to enable him prepare adequately for the trial.
Haruna assured the court that the defendant would not jump bail or interfere with the trial.
In his ruling, the Magistrate, Ibrahim Emmanuel, admitted the defendant to bail in the sum of N500,000, with two sureties in like sum.
He ordered the sureties to produce evidence of two years’ tax payment to the Kaduna State Government.
Emmanuel further ordered the sureties to provide two passport photographs, any valid means of identification and Bank Verification Number (BVN) printout from their banks.
The magistrate adjourned the case until Nov. 24 for hearing.
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