Three men are standing trial before Court 4 of the Chief Magistrate's Court, Yaba for allegedly stealing four shares of late Demuren Babatunde, valued at N29, 876, 405.
The three men were arraigned on a three count charge of felony, stealing and forgery.
They were said to have forged the signature of the deceased and stolen his international passport to perpetuate the fraud.
The charge sheet, reads in part, "That you, Olubanjo Emilolorun, Sani Idris, Afolabi Olayinka, and others at large on the same date, time and place at the Lagos Magisterial District did steal 69,986 unit of Nigerian Breweries shares, 971, 360 unit of First Bank of Nigeria shares, 11, 500 unit of United Bank for Africa shares, 5,000 unit of Guiness Shares all valued N29,876,405, twenty nine million, eight hundred and seventy six thousand, four hundred and five naira, the property of late Demuren Emmanuel Babatunde and thereby committed an offence contrary to section 278/285 and punishable under section 285(1) and 361 of the Criminal Law of Lagos State, 2011 "
When the charges were read, the three defendants pleaded not guilty, as theirS defense counsel pleaded for them to be given bail on 'liberal terms'.
The Magistrate, Mrs. S.K Matepo agreed to admit them on bail in the sum of N1million with two sureties each, who must be civil servants or have landed property and evidence of tax payment.
The case was adjourned till May 13.