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Justice Mohammed Liman of the Federal High Court, Lagos on\nMonday ordered that alleged internet fraudster, Ismaila Mustapha, aka Mompha be\nkept in the custody of the Nigerian Correctional Services. The Court ordered\nthat Mompha be kept behind bars after he pleaded not guilty to a 14-count\ncharge of laundering N33 billion.
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\nThe court had also fixed Friday, November 29 for the hearing of the defendant\nbail application. The Economic and Financial Crimes Commission, EFCC alleged\nthat Mompha laundered the funds through a firm, Ismalob Global Investment Ltd,\nbetween 2015 and 2018. Islamob Global Investments is the second defendant in\nthe charge. The EFCC claimed that the funds, domiciled in Fidelity Bank, were\nmoved in tranches of N18,059,353,413 billion and N14,946,773,393.00 billion.
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\nThe commission further alleged that both defendants, not being a financial\ninstitution, or an authorized foreign exchange dealer, negotiated a foreign\nexchange transaction in the sum of N9.416million, N20 million, N10,437,400.00, N10miillion,\nN2.46million, N10miillion, N100million, N61million, N100million, N40.7million\nand N42million. The funds were domiciled in the defendants\u2019 Fidelity Bank\naccount. The commission alleged that Mompha \u201cbetween 2015 and 2018\u2026 procured\nIsmalob Global Investment Ltd to retain the aggregate sum of N18,059,353,413 in\nits account No. 5260000846 domiciled in Fidelity Bank Plc which sum you\nreasonably ought to have known formed part of the proceeds of unlawful act to\nwit: fraud.
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\nMompha, between 2015 and 2017, also allegedly aided the company \u201cto retain the\naggregate sum of N 14,946,773,393.00 in its account No. 5260000846 domiciled in\nFidelity Bank Plc from Pitacalize Ltd. Both actions offended Sections 18(3) and\n15(2)(d) of the Money Laundering Prohibition Act.2011 as amended and punishable\nunder section 15 (3) of the same Act, the agency said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Justice Mohammed Liman of the Federal High Court, Lagos on Monday ordered that alleged internet fraudster, Ismaila Mustapha, aka Mompha be kept in the custody of the Nigerian Correctional Services. The Court ordered that Mompha be kept behind bars after he pleaded not guilty to a 14-count charge of laundering N33 billion. The court had […]<\/p>\n","protected":false},"author":2,"featured_media":2457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[3,14],"tags":[],"yoast_head":"\n