Alleged internet fraudster, Ismaila Mustapha, also known as Mompha has been brought before the Federal High Court in Lagos this morning to face a N33 billion money laundering charge.
Mompha was brought to ccourt by The Economic and Financial Crimes Commission (EFCC).
Mompha will be docked before Justice Mohammad Liman on a 14-count charge bordering on the offences.
The anti-graft agency alleged in the charge signed by one of its counsel, Rotimi Oyedepo, that Mompha laundered the funds through a firm, Ismalob Global Investment Ltd, between 2015 and 2018.
Islamob Global Investments is the second defendant in the charge.
The EFCC claimed that the funds, domiciled in Fidelity Bank, were moved in tranches of N18,059,353,413 billion and N14,946,773,393.00 billion.
The commission further alleged that both defendants, not being a financial institution, or an authorized foreign exchange dealer, negotiated a foreign exchange transaction in the sum of N9.416million, N20 million, N10,437,400.00, N10miillion, N2.46million, N10miillion, N100million, N61million, N100million, N40.7million and N42million.
The funds were domiciled in the defendants’ Fidelity Bank account.
The commission alleged that Mompha “between 2015 and 2018… procured Ismalob Global Investment Ltd to retain the aggregate sum of N18,059,353,413 in its account No. 5260000846 domiciled in Fidelity Bank Plc which sum you reasonably ought to have known formed part of the proceeds of unlawful act to wit: fraud.
Mompha, between 2015 and 2017, also allegedly aided the company “to retain the aggregate sum of N 14,946,773,393.00 in its account No. 5260000846 domiciled in Fidelity Bank Plc from Pitacalize Ltd.
Both actions offended Sections 18(3) and 15(2)(d) of the Money Laundering Prohibition Act.2011 as amended and punishable under section 15 (3) of the same Act, the agency said.
The arraignment is presently on going.
Details later.
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