EFCC re-arraigns Mompha for fresh alleged N6b fraud

The Economic and Financial Crimes Commission (EFCC) yesterday arraigned a Dubai-based internet celebrity, Ismailia Mustapha, aka Mompha and his firm, Ismalob Global Investment Limited for alleged money laundering to the tune of over N6 billion.

The Economic and Financial Crimes Commission (EFCC) yesterday arraigned a Dubai-based internet celebrity, Ismailia Mustapha, aka Mompha and his firm, Ismalob Global Investment Limited for alleged money laundering to the tune of over N6 billion.

The agency arraigned Mompha and Ismalob before Justice Mojisola Dada of an Ikeja Special Offences Court on eight-counts charge bordering on the offences.

The counts were conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect Olayinka Jimoh a.k.a Nappy Boy, and unlawful transfer of funds for a record label, among others.

The sums named in the charge seen by The Nation are N5, 998,884.653.18, N32 million, N120 million and N15, 960,000, totaling over N6 billion.

The EFCC also alleged that Mompha concealed his interest in expensive wristwatches and an iPhone valued at over N70 million.

They are a “Rolex Oyster Perpetual Wristwatch, Audemars Piguet Wristwatch, Audemars Piguet-J46220 Wristwatch, XY Hublot-1321920 Wristwatch, XY Hublot-924206 Wristwatch and an iPhone 8 with Serial No CBPVF1KJC6C worth over N70 million.”

Mompha pleaded “Not guilty” to the eight counts while Islamob Limited (represented by Mompha) was named in and pleaded “not guilty” to the first six counts.

Following his plea, prosecution counsel, Mr. Rotimi Oyedepo applied for a trial date.

But Mompha’s counsel Mr. Gboyega Oyewole (SAN) informed the court that he had filed a bail application and same had been served on the prosecution.

Responding Oyedepo prayed for time to respond to the application.

After entertaining the submissions of counsel, Justice Dada remanded Mompha in EFCC custody pending the hearing and ruling on his bail application on January 18, 2022.

In count 1, the defendants are accused of conspiracy to launder funds obtained through unlawful activity contrary to the Advance Fee Fraud and Other Fraud-Related Offences Act, 2006.

According to the particulars of the offence, the defendants, “sometime in 2016 in Lagos conspired to conduct financial transactions to the tune of N5, 998,884.653.18, with the intent of promoting the offence of obtaining by false pretence.”

In count 2, they were accused of laundering funds obtained through unlawful activity contrary to Section 7 of the Advance Fee Fraud and Other Fraud-Related Offences Act, 2006.

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