Mompha was arrested for laundering money for fraudster

The Lagos Command of the EFCC has rearrested a suspected internet fraudster, Ismaila Mustapha a.k.a Mompha for laundering funds obtained through unlawful activities and retention of alleged proceeds of crime....CONTINUE READING>>>

Mompha was arrested on Monday 10 January, EFCC spokesman Wilson Uwujaren said.

The suspect is currently standing trial alongside his company, Ismalob Global Investment Limited on an amended twenty two-count charge bordering on cyber fraud and money laundering to the tune of N32.9bn (Thirty-two Billion Nine Hundred Thousand Naira) brought against him by the EFCC.

Mompha was initially arrested on 18 October 2019 at Nnamdi Azikiwe International Airport, Abuja, while boarding an Emirates Airline Flight to Dubai.

He was arrested by the staff of the Nigeria Immigration Service, following a watch list by the EFCC.

Mompha is alleged to have used his registered companies to receive illicit funds on behalf of “Yahoo Yahoo” boys from across the world in return for commission.

The account of one of his companies, Ismalob Global Investment Limited Bank, a Bureau de Change Company, domiciled in Zenith Bank Plc, was allegedly used to launder funds derived from unlawful activities.

Investigation has revealed a fraudulent transfer slip of $92, 412, 750 found in the suspect’s IPhone 8 device.

He will soon be charged to court, Uwujaren said.