Failed MMM Investment: Welder jailed 2 months

Failed MMM Investment: Welder jailed 2 months

Friday, February 10, 2017 10:26 am

MMM’s website describes the scheme as a circular system where members ‘give help by transferring the money to each other directly’ (Screengrab)

A Karmo Grade 1 Area Court,  Abuja, on Thursday sentenced one Hassan Joshua, 38, to two months imprisonment for criminal breach of trust and cheating, bordering on failure to pay back customer’s N430, 000

The judge, Alhaji Abubakar Sadiq, however, gave him N 10,000 option of fine and warned him to desist from committing crime.

The judge also ordered the convict to pay  N430, 000 to the complainant.

Joshua, a welder, who resides at Nimasa Estate Gwarimpa-Abuja, said that he paid the money into the money doubling scheme, Movrodi Mondial Movement (MMM).

MMM is social financial network, a mutual aid funding network of ordinary people helping each other.

Earlier, the prosecutor, Zannah Dalhatu, told the court that one Mr Fagbo Tubosun of Gwarimpa Estate reported the matter at Gwarimpa Police Station on Feb. 7.

Dalhatu said that in October 2016, the convict was given the money to construct water tank and doors.

“After collecting the money he refused to do the work and he absconded to an unknown destination,’’ he said.

The prosecutor said that during police investigation Joshua confessed to the crime.

The offence is punishable under Sections 312 and 322 of the Penal Code. (NAN)

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