UPDATE: Court Remands Mompha In Prison Over N32.9b Alleged Scam
Justice Mohammed Liman of the Federal High Court in Lagos has ordered that the suspected Internet fraudster, Ismaila Mustapha, also known as Mompha, be remanded in the prison custody.
Mompha was arraigned before Justice Liman on 14 counts bordering on fraud and money laundering.
He was accused of running a Bureau De Change [BDC] without proper authorisation of the Central Bank of Nigeria as he allegedly negotiated foreign exchange transactions with various persons despite not possessing the requisite authorisation from the Central Bank of Nigeria [CBN] to do so.
EFCC also alleged in the charge that Mompha procured one Ismalob Global Investment Limited and retained in its bank account an aggregate of N32.9 billion between 2015 and 2018 which “money formed part of proceeds of unlawful act, to wit: fraud.”
His offence, according to EFCC prosecuting counsel, Rotimi Oyedepo, is contrary to sections 5 and 29(1)(c) of the Foreign Exchange Monitoring and Miscellaneous (Provision) Act Cap F34 Laws of the Federation of Nigeria 2004 punishable under Section 29(2) of the same Act.
Mompha pleaded not guilty to the charges.
In the meantime, Justice Liman ordered that the accused be remanded in prison custody pending the hearing of his bail applicatio.
The defence team, led by Mr. Gboyega Oyewole (SAN), said there is already an existing bail application for his client which had been served on the prosecution.
During the proceeding, the prosecution asked the judge to issue summons on its listed witnesses, including the Director of Trade and Exchange Department at the CBN, Ahmed Umar; and Enu Matthew of the Special Control Unit Against Money Laundering, Ministry of Trade, among others.
The judge, thereafter, adjourned till Friday, November 29, to take arguments on the bail application and for trial to commence.
Popular internet personality, Ismaila Mustapha, also known as Mompha, has arrived the Federal High Court in Lagos for his scheduled arraignment by the Economic and Financial Crimes Commission [EFCC] over suspected fraud and money laundering.
Mompha is facing a 14 counts bordering on cyber fraud and laundering of illicit money.