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How Mompha Hid Wealth In Wristwatches –EFCC

How Mompha Hid Wealth In Wristwatches –EFCC

The Economic and Financial Crimes Commission has alleged that Ismaila Mustapha also known as Mompha, concealed his wealth in wristwatches and other movable assets valued at over N70million.

This was revealed by the anti-graft agency on Wednesday at Lagos Special Offences Court in Ikeja.



EFCC had arraigned the Internet celebrity Mompha and his firm, Ismalob Global Investment Limited.

They were both arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on eight charges bordering on alleged money laundering of over N6billion.

The offence is contrary to relevant sections of the Advance Fee Fraud Act of 2006 and the EFCC Act of 2004. 



Mompha in court | How Mompha Hid Wealth In Wristwatches --EFCC | The Paradise News






The defendants, in the counts, were accused of conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect, Olayinka Jimoh popularly known as Nappy Boy, and unlawful transfer of funds for a record label, among others.

Mompha pleaded not guilty to the charges on behalf of his company.

However, after entertaining submission of the counsel, Justice Dada ordered his remand in the custody of the EFCC till January 18 when his bail application will be heard.

Source

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