Factual Pursuit of Truth for Progress
Instagram celebrity, Ismaila Mustapha also known as Mompha, is currently facing charges on a N5.9 billion fraud, and has been remanded in the custody of the Economic and Financial Crimes Commission (EFCC).
An Ikeja Special Offence Court on Wednesday ordered that Mompha be remanded in the EFCC over the allegations.
The defendant was arraigned alongside his company, Ismalob Global Investment Ltd, on a fresh eight-count charge of fraud.
Mompha is currently facing trial at the Federal High Court, Lagos on a 22-count fraud charge proffered against him by the EFCC.
Other charges include possession of documents containing false pretense, use of property derived from unlawful acts and failure to disclose assets and properties.
According to EFCC, Mompha committed the offenses between 2016 to 2019 in Lagos.
The defendant is alleged to have conspired alongside Ahmadu Mohammed, now at large, to conduct N5.9 billion worth of financial transactions with the intent of committing the offence of obtaining by false pretence.
The EFCC prosecutor, Rotimi Oyedepo, said Mompha alongside his company promoted an illegal act with one ‘Nappy Boy’.
Oyedepo said, “On Jan. 28, 2019, the defendant and his company, with the intent of promoting one Olayinka Jimoh alias ‘Nappy Boy’ conducted unlawful financial transactions in the sum of N32 Million.
“The said sum involves the proceeds of a specified unlawful activity which is obtaining by false pretence.
“On Feb. 11, 2019 he retained the aggregate sum of N20 Million on behalf of Jimoh which he was aware that the said sum were proceeds of Jimoh’s criminal conduct (obtaining by false pretense).”
Also, the anti-graft agency alleges that Mompha transferred the sum of N15.9 million to Naptown Records on February 11, 2019 and two days later, on February 13, 2019, the sum of N20 million was transferred to Wisegate Sleek System.
The funds were allegedly amassed through illegal means.
The EFCC said that on February 3, 2020, the defendant allegedly had in his possession a document containing false pretence titled ‘Select Milk Producer J.P Morgan’ which was used to defraud Continental Diary Facilities LLC.
On October 20, 2019, Mompha also failed to reveal how he got assets worth N70 million, assets which include expensive watches such as a Rolex wristwatch, a Hublot wristwatch, two Piguet wristwatches, and an iPhone 8.
The prosecutor said, “This is required in page 10 of the Declaration of Assets Forms and is therefore an offense.”
The alleged offenses violate Sections 5(1) 6, 7 of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and Sections 7, 18 and 27(3) of the EFCC Establishment Act 2004.
The Judge, Mojisola Dada, adjourned the case to January 18 to hear of Mompha’s possibility of bail.
Mompha pleaded not guilty to charges of conspiracy to launder funds obtained through unlawful activity, laundering of funds obtained through unlawful activity and retention of proceeds of criminal conduct.