The complainant's sister said she handed over management of her brother's business to the accused in order to attend to academic commitments.
The accused was sentenced by Justice Kudirat Jose following two years of intense trial, Daily Post reports.
According to reports, Nkwocha was arraigned by the Economic and Financial Crimes Commission (EFCC) on December 13, 2013 on charge No. ID/435C/13.
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His offence contravenes against Section 39 of the Criminal Code Law of Lagos State, 2011.
The EFCC stated that the accused had in January 2011 converted the property of the complainant with an intent to defraud him.
Francisca Okorafo, who is the elder sister of the complainant, said as a result of academic commitment, she handed over the car sales business in care of Nkwocha.
During this period, the accused failed to account for two Honda Accord cars, one Infinity and a Toyota Land Cruiser Sports Utility Vehicles (SUV).
He pleaded not guilty to the charges against him and was granted bail in the sum of N2 million.