NAN-H-95
Trader
Lagos May 18, 2017 (NAN) A 21-year-old trader, Chukwuebuka Ezengwu, who allegedly used N286, 600 belonging to his customers’ in the Mavrodi Mondial Movement (MMM) Ponzi scheme, was on Thursday arraigned in Lagos.
Ezengwu is facing a two-count charge of fraud and stealing before Tinubu Magistrates’ Court.
The prosecutor, Insp. Philip Osijiale, told the court that the accused committed the offences on March 1 at Obun-Eko, Lagos Island.
He said the accused used the money sent to him by two customers Chukwumeka Okafor and Paul Ekene to purchase some goods for them to invest in the MMM scheme.
“When the complainants did not get their goods, they asked the accused to refund their money but he told them that he had put it in MMM and was waiting for refund from the scheme,’’ he said.
Osijiale said the offences contravened Sections 287 and 314 of the Criminal Law of Lagos State, 2015 (Revised).
The News Agency of Nigeria reports that Section 287 prescribes three-year imprisonment for stealing, while Section 314 stipulates a 15-year imprisonment for fraud.
The accused, however, pleaded not guilty to the charges.
The Magistrate, Mr Kazeem Omolaja, granted the accused bail in the sum of 250,000 with two sureties in like sum.
He said one of the sureties must be either his father or mother and the other must be gainfully employed and adjourned the case until May 30 for mention. (NAN)
TME/EOB/AEA
===========
Edited by Edith Bolokor/Archibong Asuquo