A 24-year-old man, John Okonkwo, who allegedly stole his employer’s N3.5 million and invested it in the Mavrodi Mondial Movement (MMM) scheme, has appeared at an Ojo Magistrates’ Court, Lagos.

The accused, a sales attendant, is facing a charge of stealing.

Okonkwo pleaded not guilty.

The prosecutor, Uche Simon, said the accused committed the offence at Shop 26, Zone E, Block 2A, Aspamda Market, Trade Fair Complex, Lagos, between March and October.

He alleged that the accused put the N3.5 million sales proceeds belonging to his employer, Mrs. Jane Ekweanua, into the Ponzi scheme.

“Okonkwo put the sales proceeds into MMM without the consent of his employer.

“It was during auditing that it was discovered that N3.5 million was missing,” Simon said.

He said the offence contravened Section 287 of the Criminal Law of Lagos State, 2015.

The Magistrate, A. S. Okubule, granted the accused N500,000 bail with two sureties.

She said they must live in the court’s jurisdiction and must be employed.

Okubule adjourned the case till January 23.