Crime
Millions of company’s money invested in MMM; suspect stands his ground in court
John Okonkwo, a salesman who allegedly stole his employer’s N3.5m and invested in the Mavrodi Mondial Movement scheme, appeared before an Ojo Magistrates’ Court Thursday.
The accused, a sales attendant, is facing a charge of stealing.
Okonkwo, 24, however, pleaded not guilty to the charge.
The prosecutor, Insp. Uche Simon, said that the accused committed the offence at Shop 26, Zone E, Block 2A Aspamda Market, Trade Fair Complex, Lagos between the months of March and October.
According to him, Okonwo put the N3.5m sales proceeds belonging to his employer, Mrs Jane Ekweanua, into Ponzi scheme.
“It was during auditing that it was discovered that N3.5 million was missing,” he said.
Simon said the offence contravened Section 287 of the Criminal Law of Lagos State, 2015.
Section 287 prescribes three-year imprisonment for stealing.
Magistrate A. S Okubule granted the accused N500,000 bail with two sureties in like sum.
She said that the sureties must reside within the court’s jurisdiction and must be gainfully employed.
Okubule adjourned the case until Jan. 23, 2018.
-
Health1 week agoSenate hearing set to review research on COVID-19 vaccines, cancer concerns
-
Crime6 days agoLASU student dies after armed robbery attack
-
Featured6 days agoOsun APC counters Adeleke over security drone dispute, urges public to ignore allegations against Oyetola
-
Latest1 week ago2027: North will back Tinubu’s re-election bid, says ex-ACF Secretary-General
-
Politics6 days agoEmeka Ike reacts to alleged INEC-linked data breach
-
Comments and Issues1 week agoDay Ibori stormed Asaba for Oborevwori’s third anniversary
-
Politics6 days agoFour PDP reps from Bauchi defect to APM, cite internal party crisis
-
News6 days agoCelebrating Governor Mutfwang’s visionary leadership three years on