A 45-year-old businessman, Tony Okeleke, was docked in the Kubwa Upper Area Court, Abuja, for misappropriating N2 million meant for investment.

The police charged the defendant with criminal breach of trust, misappropriation and cheating.

The prosecution counsel, John Okpa, alleged that the defendant acted fraudulently and deceived Quadri Shehu into giving him the money in March 2023.

Mr Okpa said the defendant collected the money under the pretence of investing it in a housing estate for six months with a profit of N1 million.

He added that the defendant misappropriated the money for his use without Mr Shehu’s consent.

The offence, he said, contravened the provisions of sections 312, 309 and 322 of the Penal Code.

Section 309 states that whoever commits criminal misappropriation shall be punished with imprisonment for a term that may extend to two years, with a fine, or with both.

The defendant, however, pleaded not guilty to the charge.

The judge, Muhammad Wakili, admitted the defendant to N1 million bail with one surety in like sum with a fixed address within the court’s jurisdiction.

Mr Wakili said the surety must produce a printout of the Bank Verification Number (BVN), and the police and court officials should verify the address.

He adjourned the matter until March 7 for a hearing.

(NAN)