Tema, Dec. 24, GNA - A trader has been granted 30 million cedis bail by the Tema circuit court 'B' for defrauding a businessman of 10.6 million cedis.

Seth Asiedu pleaded not guilty to the charge and will reappear on January 14, 2005.

Prosecuting, DSP Robert Aganiba told the court presided over by Mr Stephen Teye that, in May 2004, the accused in the company of his friend now at large, went to a businessman, who deals in lumber and collected a quantity of scantlings worth 10.6 million cedis to sell to a contractor on the Spintex Road and would pay in a week's time.

He said the accused later brought five million cedis of the amount and promised that they will bring the balance within a period of six weeks, but they went into hiding.

DSP Aganiba said the complainant went to the contractor whom the accused supplied with the scantlings to find out about the amount, but he (contractor) said he had paid the whole amount to the accused.

He said on September 5, the complainant met the accused at Ashaiman, and with the assistance of some people around, arrested him to police station, adding, he admitted in his caution statement that he had collected the amount and invested it in another business.