Money Laundering Crime: Mompha Pleads Not Guilty
Social media celebrity, Ismaila Mustapha, popularly known as Mompha, has denied involvement in a N33billion money laundering charge filed against him by the Economic and Financial Crimes Commission (EFCC).
Mompha pleaded not guilty to a 14-count charge bordering on the offences following his arraignment at the Federal High Court, Ikoyi, Lagos by the EFCC.
In one of the charges, Mompha was alleged to have, between 2015 and 2018, procured Ismalob Investment Limited to retain the aggregate sum of N18,059,353,413 (Eighteen Billion, Fifty-Nine Million, Three Hundred and Fifty-Three Thousand, Four Hundred and Thirteen Naira) in its account No. 5260000846 domiciled in a new generation bank.
READ: EFCC Set To Arraign Mompha On Monday November 25
The defendant who is fingered as a major figure in an organised transnational cyber fraud network, allegedly used his company, Ismalob Investment Limited to launder the funds, part of which he used in acquiring properties in Dubai.
In another charge, the defendant between 2015 and 2017 allegedly used Ismalob Global Investment Limited to retain in the same account, the aggregate sum of N14,946,773,393.00 (Fourteen Billion, Nine Hundred and Forty-Six Million, Seven Hundred and Seventy-Three Thousand, Three Hundred and Ninety Three Naira) received from Pitacalize Ltd.
The retention of the monies which are reasonably suspected to be proceeds of unlawful act, is contrary to Sections 18(c) and 15(2)(d) of the Money Laundering Prohibition Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
READ: Alleged Fraud: Mompha Sues EFCC, Demands N5m
Upon his plea, the prosecuting counsel, S.I. Suleman asked the court for a trial date and an order to remand the defendant in a Correctional Centre, pending the determination of the case.
Justice Mohammad Liman, therefore, ordered that Mompha be remanded in prison custody and adjourned till Friday for hearing of his bail application and commencement of trial.
