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EFCC arraign MOMPHA over N6 billion money laundering
The Economic and Financial Crimes Commission has charged Dubai-based millionaire Ismailia Mustapha, aka Mompha, with laundering nearly N6 billion
![Photo of MOMPHA [image source:@MOMPHA]](/_next/image?url=https%3A%2F%2Fi.ibb.co%2F4V5WQq4%2F3.png&w=3840&q=75)
His company, Ismalob Global Investment Limited, was also charged with the same crime.
The defendants were charged with conspiracy to launder cash earned via illegal acts, as well as retention of such funds, transfer of funds for a suspect, Olayinka Jimoh, nicknamed Nappy Boy, and unlawful transfer of funds for a record label.
"Ismaila Mustapha (aka Mompha) was arraigned this morning, January 12, 2022, for crimes bordering on money laundering and use of property gained from an unlawful conduct," the EFCC said in a statement.
"He was arraigned in the Special Offences Court in Ikeja, Lagos, before Justice Mojisola Dada."
Mustapha was alleged to have pleaded not guilty to the eight charges brought against him, while Islamob Global Investment Limited, Mustapha's company, pleaded not guilty to the first six.
Until the new arraignment, Mustapha and his company were facing amended 22 counts of cyber fraud and money laundering totaling N32.9 billion levelled against him by the EFCC.
Mustapha was re-arrested, according to the anti-graft agency, for laundering funds earned through illegal operations and keeping claimed proceeds of crime.
