A 55-year-old estate agent, Segun Olufemi, who allegedly obtained N410,000 from two people under the guise of renting self contained apartments to them was on Tuesday arraigned in an Ikeja Senior Magistrates’ Court, Lagos.

The accused, a residence of No. 100, Agbele Road, Abule Egba, a Lagos suburb, is facing a two-count charge of fraud and stealing.

The Prosecutor, Insp. Raji Akeem, told the court that the accused committed the offences in October 2015, at No.107 Ekoro Road, Abule Egba, Lagos.

He said the accused collected N 250, 000 from one Bosede Shoyooye and N160, 000 from Aderonke Fadahunsi, and failed to provide the apartments he promised them.

Akeem alleged that the accused converted the money to his personal use.

“When the accused could not provide the apartments, the complainants decided to ask for a refund of the money but he refused to refund their money,’’ he said.

Akeem said the offences contravened Sections 285 and 312 of the Criminal Law of Lagos State, 2011.

The News Agency of Nigeria (NAN) reports that Section 312 prescribes a 15-year jail term for offenders.

The accused, however, pleaded not guilty to the charges.

The Senior Magistrate, Mr T.O Shomade, granted the accused bail in the sum of N100, 000, with two sureties in like sum and adjourned the case till March 1 for mention.