ALLEGED SCAM: Court remands internet celebrity Mompha in prison

The Federal High Court, Lagos, on Monday remanded in prison the suspected internet fraudster, Ismaila Mustapha, aka Mompha, who is standing trial for alleged N33 Justice Mohammed Liman gave the order shortly after Mompha was arraigned by the Economic and Financial Crimes Commission (EFCC) on a 14- count charge of fraud, money laundering and running a foreign exchange business without the authorisation of the Central Bank of Nigeria (CBN).

The Commission had alleged in the charge signed by its counsel, Rotimi Oyedepo, that the defendant laundered N33billion through a firm, Ismalob Global Investment Limited between 2015 and 2018.

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The company was joined as the second defendant in the charge.

According to the EFCC, the funds which were domiciled in Fidelity Bank were moved in tranches of N18 billion and N15 billion.

The Commission also claimed that both defendants, not being a financial institution, or an authorized foreign exchange dealer, negotiated a foreign exchange transaction in the sum of N9.42 million, N20 million, N10.4 million, N10 million, N2.46 million, N10 million, N100 million, N61 million, N100 million, N40.7 million and N42 million.

The funds, EFCC insisted, were domiciled in the defendants’ Fidelity Bank account.

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