A business arrangement involving a charcoal vendor, Abdulrahman Bala, has landed in court after accusations of cheating and misappropriation of investment funds totaling ₦2.7 million.
Bala was arraigned before a Shari’a Court sitting at Magajin Gari in Kaduna State, following a complaint by Murjanatu Ahmed, who alleged that she invested ₦1.6 million in the vendor’s charcoal business with an agreement to share profits while keeping the capital intact.
According to the prosecutor, ASP Luka Sadau, the deal later encouraged Ahmed’s son-in-law to contribute an additional ₦1.1 million. However, the complainants claim Bala failed to uphold his end of the agreement, leading to the legal action.
The court has scheduled a date for further proceedings.
“He started paying but stopped along the line and all efforts to recover the remaining balance of N1.5 million proved abortive.
“After thorough investigation, the defendant pleaded guilty,’’ he said.
On his part, the defendant denied cheating and misappropriation of funds.
The Judge, Malam Kabir Muhammad granted bail to the defendant on the condition that he provides a reliable surety and a bail bond of N1 million.
He adjourned the matter till June 4 for the prosecutor to present witnesses.
