A businessman, Ìdòwú Adekunle, has accused two car importers of defrauding him of the sum of $112,000 (N67.2m) after a failed car importation deal in Lagos State.

The importers, Obi Victor and Vincent Obi, were arraigned before Chief Magistrate L. A. Owolabi, at the Samuel Ilori Court, Ogbà, Lagos State, on three counts of obtaining by false pretences, fraud, and stealing.

Adekunle said the defendants promised to import 11 cars from the United States of America for him and collected the sum of $112,000 for the vehicles.

However, Adekunle alleged that the defendants stole the money deposited for the cars, adding that when the matter was reported to the police, the men were arrested.

The police prosecutor, Josephine Ikhayere, said the offences were punishable under sections 411, 314 (1) (a-b), and 284(1) (a-b) of the Criminal Law of Lagos State of Nigeria, 2015.

The defendants pleaded not guilty to the charges.

Chief Magistrate Owolabi granted them bail with two sureties who must be property owners and must have a minimum balance of N500,000 in their bank accounts with three years’ tax payment receipts.

The matter was adjourned till October 11 for mention.