THE Lagos Command of the Economic and Financial Crimes Commission has arraigned a suspected internet fraudster, Ismailia Mustapha, popularly known as Mompha, over new money laundering charges to the tune of ₦6 billion on Tuesday, January 12, 2022.
Mompha was arrested on Monday, January 10, and is currently standing trial alongside his company, Ismalob Global Investment Limited, on a renewed eight-count charge bordering on cyberfraud and money laundering.
Ismailia Mustapha, was arraigned before Justice Mojisola Dada of the Special Offences Court, sitting in Ikeja, Lagos State, on Tuesday, January 11, 2022.
The defendants 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; all involving over ₦6 billion.
The EFCC claims that Mompha invested most of these funds in expensive wristwatches and other movable assets valued at over ₦70 million.
Mompha is also standing another 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 ₦32.9 billion brought against him by the EFCC.
He is alleged to be using his companies to receive illicit funds on behalf of internet frauds or ‘Yahoo boys’ from across the world in return for a commission.
