The accused is facing a two-count charge of obtaining under false pretences and unlawful conversion.
He, however, pleaded not guilty to the charge.
The prosecutor, ASP R. Umuigbe, had told the court that the accused committed the offences on Sept. 29, 2017, at Magodo GRA, Lagos.
He said that the accused collected the sum from Mr Babatunde Adeparusi on the pretext of constructing a graveyard for him in Ado-Ekiti but converted the money for his personal use.
The offences contravene Sections 287 and 314 of the Criminal Law of Lagos State, 2015, according to the prosecutor.
The Chief Magistrate, Mr P.A. Ojo, admitted the accused to N500,000 bail, with two sureties in like sum.
Ojo ordered that one of the sureties must be a blood relation of the accused.
He adjourned the case until April 30 for substantive hearing.
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