Two brothers, Herman Mizzi, 31, and John Mizzi, 20, both of Zabbar, this morning pleaded not guilty to defrauding a 54-year-old businessman, Joseph Galea, of €153,600 between January 2007 and last December.
They also denied misappropriation.
Police sources said the businessman had allegedly given money to the two brothers under false pretences.
Magistrate Joseph Apap Bologna granted the men bail against a personal guarantee of €2,000 each.