The Economic and Financial Crimes Commission (EFCC) has recovered wristwatches worth N20m from ‘Instagram big boy’, Mompha.
This is according to a statement on Tuesday by the EFCC Spokesman, Wilson Uwujaren. He said Mompha allegedly used his bureau de change as cover to launder funds.
Mompha, whose actual name is Ismaila Mustapha, was arrested by the EFCC on his way to Dubai last Friday.
The statement read, “The EFCC, Lagos Zonal office, has arrested a social media celebrity, Ismaila Mustapha popularly known as Mompha for alleged involvement in internet-related fraud and money laundering.
“The suspect was arrested on Friday 18 October, 2019 at the Nnamdi Azikiwe International Airport, Abuja on his way to Dubai, United Arab Emirates following series of actionable intelligence reports linking him to organised transnational cyber fraud and money laundering.
“Ismaila allegedly perpetrates his fraudulent activities under the cover of being a Bureau de Change operator, to launder his proceeds of crime. However, the suspect has volunteered useful information while investigation continues.
“At the point of arrest, five wristwatches with a total value of over N20m were recovered from him. The suspect will be charged to court as soon as investigation is concluded.”