The prosecutor, Insp. Idowu Osungbure, told the court that the accused committed the offences in Lagos sometime in October 2013.
The 53-year-old accused of no specific address, is standing trial on a two-count charge bordering on fraud and forgery.
According to the prosecutor, the accused allegedly collected a 2006 Range Rover L3 model, valued at N8m, property of one Francis Onwuka, under pretext of selling it but converted same to his own use.
He alleged that the accused forged the documents of the vehicle and sold it without the knowledge of Onwuka, stressing that the offences contravened Sections 312 and 363 of the Criminal Law of Lagos State, 2011 and section 312 provides 14 years imprisonment for anyone found guilty of the offence.
The accused however pleaded not guilty.
Counsel to the accused, Mrs. Helen Ibeji, urged the court to grant bail to the accused on liberal terms.
The Magistrate, Mrs. F. F. George, in her ruling, granted the accused bail in the sum of N250, 000 with two sureties in like sum, stating that one of the sureties must be a close relation of the accused and must produce evidence of two years tax payment.
She adjourned till January 13 for mention, ordering that the sureties must be gainfully employed with their addresses verified by the court