A building contractor, Dehinbo Olatunji, has been arrested for allegedly defrauding his client, one Emmanuel Sunday, of N39,730,000.
It was gathered that Olatunji collected the money from Sunday on the pretext of helping him to complete a building project in Calabar, Cross River State.
It was learnt that Olatunji converted the money paid by Sunday into his Zenith Bank account to his personal use.
Olatunji was arraigned before the Igbosere Magistrates’ Court on two counts of obtaining under false pretences and stealing.
He, however, pleaded not guilty to the charges.
According to the police prosecutor, Haruna Ibrahim, the defendant committed the offences sometime in June 2018, at Wasimi, Maryland, Lagos.
Ibrahim added that the offences contravened sections 314 and 287 of the Criminal Law of Lagos State, 2015.
The presiding magistrate, Chief Magistrate Folashade Botoku, admitted the defendant to bail in the sum of N1m with two sureties in like sum.
She adjourned the case till February 14, 2019.