Alleged 33bn Fraud: Witness presents evidence of Money laundering against Mompha

IN the trial of renowned internet celebrity, Ismail Mustapha also known as Mompha, a witness for the Economic Financial Crimes Commission (EFCC), Enu Mathew Obun has on Wednesday testified to the court that Mompha used his company, Ismalob Global Investments Limited to operate illegal bureau de change.

According to a statement by the EFCC Acting Head, Media & Publicity, Tony Orilade, he said the commission is prosecuting Mompha and Ismalob Global Investments Limited, a company he owns on a 14 count charge bordering on cyber fraud and money laundering worth N33 billion Naira.

    According to the press release,  Mompha is alleged to have used the company to launder funds, part of which he used to acquire properties in Dubai, the United Arab Emirates for himself.

    “Rotimi Oyedepo, a counsel to EFCC on the case and a compliance officer of Special Control Unit Against Money Laundering (SCUML) arm of the commission told the court presided over by Justice Abdullahi Liman that there is no financial record of Mompha’s company, Ismalob Global between a period of two years.

    “From the database search in the office, there is no information on Ismalob Global Investment Limited and all the transactions that were done in the company’s account between December 14, 2015, and January 25, 2018, are not on SCUML’s record,” the statement read.

    The statement further read that EFCC letter of request and the response from SCUML were admitted in evidence by the court while the sitting judge on the case, Liman adjourned the matter to February 26 for the continuation of the trial.

    Lukman Abolade is an Investigative reporter with The ICIR. Reach out to him via [email protected], on twitter @AboladeLAA and FB @Correction94

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