The 38-year-old was also warned to desist from committing crime.
But according to him, he invested the N430,000 into the money doubling scheme, Movrodi Mondial Movement.
Joshua, a welder, who resides at Nimasa Estate Gwarimpa-Abuja confessed during police investigation.
Speaking earlier, the prosecutor, Zannah Dalhatu told the court that one Fagbo Tubosun of Gwarimpa Estate reported the matter at Gwarimpa Police Station on Tuesday, February 7.
Dalhatu said that in October 2016, the convict was given the money to construct water tank and doors.
He said: “After collecting the money, he refused to do the work and he absconded to an unknown destination.”
Joshua’s offence is punishable under Sections 312 and 322 of the Penal Code.
MMM is social financial network, a mutual aid funding network of ordinary people helping each other.
Recall that there was panic on Tuesday, December 13, 2016, among participants when the scheme froze all confirmed Mavros, saying it would resume operations after one month.
The scheme had said it would resume on January 14 but it has resumed a day earlier.
However, it is close to a month since the Ponzi scheme came back but members have not been able to get back their money.