Ismaila Mustapha aka Mompha
By Our Reporter
More facts have emerged on why the operatives of the Economic and Financial Crimes Commission arrested and arraigned Internet celebrity, Ismaila Mustapha also known as Mompha,
Mompha and his firm, Ismalob Global Investment Limited were arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on eight charges bordering on alleged money laundering of over N6billion.
EFCC also alleged that Mompha concealed his wealth in wristwatches and other movable assets valued at over N70million.
The offence is contrary to relevant sections of the Advance Fee Fraud Act of 2006 and the EFCC Act of
The defendants, in the counts, were accused of conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect, Olayinka Jimoh popularly known as Nappy Boy, and unlawful transfer of funds for a record label, among others.
Mompha pleaded not guilty to the charges on behalf of his company.
However, after entertaining submission of the counsel, Justice Dada ordered his remand in the custody of the EFCC till January 18 when his bail application will be heard
