A man who was entrusted with $23,000 by a woman for him to take it to the bank on her behalf was offered $50,000 bail with surety in the Corporate Area Resident Magistrate's court yesterday.

David Wittock who is charged with fraudulent conversion seemed bemused as he explained to the court what actually transpired on the day of the incident leading up to his arrest.

According to him, while he was on his journey to the bank, his bicycle wheel punctured and he had to stop to get it patched.

Shortly afterwards, he said he put his hand in his pocket and realised that the money went missing.

He further explained that he became nervous but called the complainant to inform her that the money had gone missing but he would be willing to repay her.

The defendant said he and the complainant had agreed on the terms of repayment, so he was surprised when he was arrested and charged by the police because of the missing money.

He said on the day of his arrest, he was downtown when an employee from the gas station where he had gone to patch his bicycle pointed him out to the police to his bemusement.

On condition of his bail, he will have to report to the Admiral Town Police Station on Mondays and Fridays between 6 a.m. and 6 p.m., submit his fingerprints to the police and return to court on September 22.