Self-employed Mohd Heikel Ashaari, 44, and college lecturer Kwong Wing Chong, 42, pleaded not guilty to a charge of inducing the 46-year-old man into handing over to them nine cheques bearing that amount for investment in the oil and gas industry.
Heikel and Kwong allegedly committed the offence at a food outlet on Jalan Kolam Air Lama, Ampang Jaya, here, between 8.30am and noon on Feb 25, 2015 and March 16, the same year.
They were charged under Section 420 of the Penal Code which provides a prison sentence of up to 10 years and caning, and a fine upon conviction.
Deputy public prosecutor Norhashimah Hashim offered bail of RM7,000 in one surety to each of the accused.
Magistrate Mohamad Firdaus Sadina Ali allowed the accused bail of RM6,000 each in one surety and fixed July 17 for re-mention of the case.