Court remands Mompha over alleged N6bn money laundering

Justice Mojisola Dada of a Lagos Special Offence Court in Ikeja has ordered remand of social media celebrity, Ismaila Mustapha known as Mompha in the Economic and Financial Crimes Commission, (EFCC) custody pending hearing of his bail application.

The judge ordered his remand after he was arraigned on an eight count charges which borders on aiding internet fraud and being in possession of fraudulent documents.

Mompha and Ismalob were accused of 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 are N5,998,884.653.18, N32million, N120million and N15,960,000, totalling over N6 billion.

The EFCC also alleged that Mompha concealed his interest in expensive wristwatches and other movable assets valued at 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.

Mompha is also standing trial at the Federal High Court in Lagos alongside Ismalob Global Investment Limited on an amended 22-count charge bordering on cyberfraud and money laundering to the tune of N32.9bn brought against him by the EFCC.

He pleaded not guilty to each of the counts.

The prosecutor counsel, Mr. Rotimi Oyedepo asked the court for a trial date.

The defendant counsel, Gboyega Oyewole, SAN, who led Ademola Adefolaju and Kolawole Salami informed the court that they have filed a bail application and same has been served on the prosecutor.

Responding to the bail application, Mr. Oyedepo asked for time to respond to the application.

After entertaining submission of counsel’s, Justice Dada adjourned till January 18, 2021 to hear and rule on the bail application.

Mompha had earlier been charged before Justice Liman of the Federal High Court sitting in Lagos vide charge No FHC/L/413C/19 by the EFCC and was subsequently admitted to bail.