Welder in prison for using customer's money for Ponzi scheme
An Abuja-based artisan has been sentenced to prison for using his customer's money to invest in the controversial MMM Ponzi scheme.
Joshua was found guilty on charges of criminal breach of trust and cheating by the presiding judge, Alhaji Abubakar Sadiq, after he used the money given to him for a project to invest in the scheme with the hope of making a huge profit but was disappointed with the freezing of the MMM accounts.
According to the police prosecutor, Zannah Dalhatu, Joshua, a resident of at Nimasa Estate, Gwarimpa, had collected the money from the complainant, Fagbo Tubosun, in October 2016, but instead of doing the job it was meant for, he put it in the Ponzi scheme.
Dalhatu said after trying in vain to collect his money back, Tubosun reported the matter at Gwarimpa Police Station, leading to the arrest and arraignment of the accused.
The prosecutor said that during the police investigation, Joshua confessed to the crime which is punishable under Sections 312 and 322 of the Penal Code.
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