One Alice Ejike, 44, has been arraigned before a Karmo Grade 1 Area Court, Abuja, over alleged MMM fraud.

Ejike, a business woman was said to have dubiously and deceitfully convinced one Sunday Enyi of Karmo village to invest the sum of N50,000 in the defunct ponzi scheme, MMM, on July 20.

The Prosecutor, Florence Avhioboh, told the court that Enyi reported the matter at the Karmo Police Station on September 6.

The complainant said that the business woman told him that the money would multiply in a month, knowing that the Ponzi scheme had crashed.

Avhioboh disclosed that the 44-year-old, after collecting the money 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.

According to Avhioboh, the suspect had during police investigation claimed to have deposited the money into the complainant’s MMM account.

Avhioboh said the offences contravened Sections 322 and 321 of the Penal Code.

The 44-year-old, however, denied committing the offences.

Against this backdrop, the Judge, Alhaji Abubakar Sadiq, granted her bail in the sum of N20, 000 and a surety in like sum.

Consequently, Sadiq adjourned the matter till October 3 for hearing.