Mompha remanded in EFCC custody over money laundering charges

He pleaded not guilty to each of the counts.
Mompha remanded in EFCC custody over money laundering charges

Mompha, EFCC officials

FILE

A Lagos Special Offence Court sitting in Ikeja has ordered that Instagram big boy, Ismaila Mustapha, popularly known as Mompha, be remanded in the custody of the Economic and Financial Crimes Commission pending the hearing of his bail application.

Justice Mojisola Dada called for Mompha's continuous detention after he was arraigned on a eight-count of aiding internet fraud and being in possession of fraudulent documents.

Mompha and his company, Global Investment Limited, were accused of conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect, Jimoh Olayinka Dolapo a.k.a Nappy Boy — owner of NapTown records — and unlawful transfer of funds for a record label, among others.

The sums named in the charge are N5,998,884.653.18, N32million, N120million and N15,960,000, totalling over N6 billion.

The EFCC also alleged that Mompha concealed his interest in expensive wristwatches and other movable assets valued at over N70 million.

Mompha on his part, pleaded 'Not guilty' to the eight counts while Islamob Limited was named in and pleaded “not guilty” to the first six counts.

Justice Dada adjourned hearing till January 18, 2022, to hear and rule on a bail application filed by the defendant’s counsel, Gboyega Oyewole.

It would be recalled that Mompha is also standing 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 N32.9billion brought against him by the EFCC.

He pleaded not guilty to each of the counts.

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