Almost a year after Ponzi scheme platform, MMM, crashed; the platform is still making the news.

A 44-year-old business woman, Alice Ejike, was on Monday arraigned in a Karmo Grade 1 Area Court, Abuja, for alleged MMM fraud.

The prosecutor, Florence Avhioboh, told the court that Sunday Enyi of Karmo village reported the matter at the Karmo Police Station on September 6.

She said the complainant alleged that on July 20, the defendant dubiously and deceitfully convinced him to invest N50,000 into an online banking called MMM.

The complainant said the defendant told him that the money would multiply in a month’s time, knowing that the MMM was no longer ongoing.

Avhioboh said the defendant allegedly collected the money and converted it to her personal use.

“When he went to collect his money as they agreed, she used her children to prevent him from seeing her.”

Avhioboh said during police investigation, the defendant claimed to have deposited the money into the complainant’s MMM account.

The defendant denied committing the offences, while the judge, Abubakar Sadiq, granted her bail in the sum of N20,000 and a surety in like sum.

The case was adjourned until October 3 for hearing.

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