Akeem Adedokun (35) is facing a three-count charge bordering on theft and unlawful possession.

He appeared before an Osogbo Chief Magistrates’ Court on Monday.

The Prosecutor, Sgt. Rasak Olaiwola, told the court that the accused collected N500,000 on the pretext of purchasing a vehicle for Mr Olalere Salam sometime in 2013 at Fakunle area of Osogbo.

Four years after the deal was struck, no car has been delivered while no cash has been returned to the owner.

According to Sgt. Olaiwola, “The accused failed to buy the vehicle and converted the money to personal use.”

The offence contravened Sections 390 (9), 419 and 421 of the Criminal Code, Laws of Osun, 2003.

Adedokun pleaded not guilty to the charges and his lawyer, Mr Najite Okobie, urged the court to grant him bail on liberal terms.

In her ruling, Magistrate Mary Awodele granted the accused bail in the sum of N200,000 with two sureties in like sum.

She said one of the sureties must be a civil servant in the state, while the other surety should be a close relation.

The sureties must reside within the court’s jurisdiction and produce evidence of tax payment.

The case was adjourned until August 8 for hearing.