January 20, 2022

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The EFCC Has Charged Mompha To Court For Allegedly Laundering Over N6 Billion (Photos)

A Lagos Special Offence Court in Ikeja has ruled that socialite Ismaila Mustapha, also known as Mompha, be detained by the Economic and Financial Crimes Commission (EFCC) until his bail plea is heard.

After being arraigned on an eight-count charge of facilitating online fraud and being in possession of fraudulent documents, Justice Mojisola Dada ordered his remand. Mompha and his company, Global Investment Limited, were charged with conspiracy to launder funds obtained through illegal activity, retention of such funds, transfer of funds for a suspect, Jimoh Olayinka Dolapo a.k.a. Nappy Boy, the owner of NapTown Records, and unlawful transfer of funds for a record label, among other things.

The charges total almost N6 billion and include sums of N5,998,884.653.18, N32 million, N120 million, and N15,960,000. Mompha allegedly concealed his interest in luxury wristwatches and other movable assets worth over N70 million, according to the EFCC.

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Mompha pled “not guilty” to the eight counts, while Islamob Limited was charged with the first six counts and pleaded “not guilty.” Justice Dada postponed the hearing on a bail application filed by the defendant’s counsel, Gboyega Oyewole, until January 18, 2022.

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Mompha, together with Ismalob Global Investment Limited, is on trial in the Federal High Court in Lagos on an amended 22-count charge of cyberfraud and money laundering in the amount of N32.9 billion levelled against him by the EFCC. He filed a not guilty plea to all of the charges.

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