A 40-year-old coconut merchant, Adekunle Abodunrin, on Wednesday, appeared before a Badagry Chief Magistrates’ Court in Lagos over alleged N7.4 million fraud.

The defendant of no fixed residential address is facing a three-count charge of fraud, inducement and stealing.

He pleaded not guilty to all the charges.

The police prosecutor, Inspector Ayodele Adeosun told the court that the defendant committed the offences on May 10, at 11.00.a.m at Badagry Coconut market in Lagos State

Mr Adeosun said that the defendant allegedly obtained N4,700, 000 from one Adenike Salaudeen, the complainant, under the pretext of supplying her several bags of coconut.

He said, “The defendant fraudulently induced the complainant that he would deliver the products, which he didn’t. The defendant allegedly converted the money to his own use. The offences contravened Sections 314, 323 and 287 of the Criminal Code, Laws of Lagos State.’’

The Chief Magistrate, Patrick Adekomaiya granted the defendant bail in the sum of N500,000 with two sureties in like sum.

Mr Adekomaiya said the sureties must reside within the court’s jurisdiction and provide evidence of tax payment to the Lagos State Government.

The chief magistrate adjourned the case until October 30, for mention. 

(NAN)