The Police charged Alatise, 53, and Olatoye, 67, with six counts bordering on conspiracy, stealing, obtaining under false pretences, forgery and being in possession of false documents.
They, however, pleaded not guilty to the charges.
Insp. Kehinde Omisakin, the prosecutor told the court that the defendants committed the offences on January 16, at Ilupeju, Lagos.
She told the court that Alatise and Olatoye obtained N880,000 from Lamidi Adenuga and Abidemi Mustapha under the pretext that they would rent a three bedroom flat out to them.
He said the defendants also presented themselves as lawyers in charge of the three bedrooms flat situated at Ilupeju and were found in possession of false documents.
“They also forged a letter headed paper and logo showing them as legal practitioners and property consultants with which they use in defrauding unsuspecting members of the public,” she said.
The offences contravened the provisions of sections 287, 314, 320, 365, 380 and 411 of the Criminal Law of Lagos State, 2015.
The Chief Magistrate, Mrs A.O. Komolafe, admitted the defendants to bail in the sum of N250,000 each with two sureties each in like sum.
She fixed March 7, for mention.