EFCC arrests Mompha with N20m wristwatches for alleged internet fraud, money laundering
The Economic and Financial Crimes Commission (EFCC), Lagos office, has arrested a renowned social media celebrity, Ismaila Mustapha, popularly known as Mompha, for alleged involvement in internet-related fraud and money laundering.
This was announced in a statement issued on Tuesday by EFCC on its official and verified handle on a microblogging platform, Twitter.
The EFCC said at the point of arresting Mompha, five wristwatches with a total worth of over twenty million naira (N20, 000, 000: 00) were recovered from him.
Mompha, who is the Chief Executive Officer of Mompha Bureau de Change, is known for always posting pictures of a large sum of monies, expensive cars, wristwatches and properties on Instagram via his Instagram handle.
The suspect, following series of intelligence reports received by the Commission, was arrested Friday 18, October 2019, at the Nnamdi Azikiwe International Airport, Abuja on his way to Dubai Emirate.
According to the EFCC operatives, “actionable cross border intelligence received from collaborative law enforcement agencies about his alleged involvement in the criminal activities further strengthened our suspicion.
“Ismaila who allegedly perpetrates his fraudulent activities under the guise of being a Bureau de Change operator is always seen with his little son flaunting huge amount of foreign currencies on his social media platforms.
“Investigations have also revealed that Ismaila is only using the BDC business, he jointly owned with his siblings, as a decoy to launder his proceeds of crime.
“However, the suspect has volunteered useful information to the operatives and has admitted to be reasonably involved in the first two cases he was alleged to be involved with.
“At the point of arrest, five wristwatches with a total worth of over twenty million naira (N20, 000, 000: 00) were recovered from him.
“The suspects will soon be charged to court as soon as investigation is concluded.”