A Malumfashi chief magistrates’ court in Katsina state has ordered the remand of Debora Fojo and Musa Garba, two agents of the ponzi scheme, Mavrodi Mundial Movement (MMM), in custody over alleged breach of trust and cheating.
The two were accused of collecting N429,000 to invest in the scheme.
Fojo and Garba are residents of Government Girls Secondary School Malumfashi quarters and Unguwar Danyawa village in Kafur local government area respectively.
Fojo allegedly collected N229,000 from one Sani Salisu of Unguwar Sodangi in Malumfashi to invest in the scheme, while Garba was said to have collected N200,000 from one Adamu Aliyu.
Advertisement
Sani Ahmed, the police prosecutor, told the court that the accused deceived the complainants with a promise that business would provide 30 percent returns within 30 days.
He said neither the original money nor the interest were returned to the complainants after the expiration of the agreed period.
Ahmed said the accused were charged with criminal breach of trust and cheating, offences that contravened sections 312 and 322 of the penal code laws.
Advertisement
The two accused persons, however, pleaded not guilty to the charges.
Lawal Usman, chief magistrate, adjourned Fojo’s case till April 11, while that of Garba was moved to April 18, for mention.
He ordered that the two accused persons be remanded in prison.
About three million Nigerians invested in the scheme which crashed in December.
Advertisement
Add a comment
