Just In: Court remands socialite Mompha in prison for allegedly laundering over N6billion for singer Nappyboy

A Lagos Special Offence Court sitting in Ikeja has ordered the remand of socialite Ismaila Mustapha, better known as Mompha, in the Economic and Financial Crimes Commission (EFCC) custody pending hearing of his bail application.

Mompha was re-arrested on January 10, 2022, on allegations of cyber fraud and money laundering totalling N32.9 billion, together with his company, Ismalob Global Investment Limited.

Ismaila Mustapha, also known as Mompha, and Ismalob Global Investment Limited were on 12th of January, however, arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos on eight counts bordering on conspiracy to launder funds obtained through unlawful activities, retention of proceeds of criminal conduct, laundering of funds obtained through unlawful activities, failure to disclose assets and property, possession of documents containing false pretence and use of property derived from an unlawful act.

One of the counts reads: “Ismaila Mustapha, Ahmadu Mohammed (at large) and Ismalob Global Investment Limited, sometime in 2016 in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to conduct financial transactions to the tune of N5,998,884,653.18 ( Five Billion Nine Hundred and Ninety-eight Million Eight Hundred and Eighty-four Thousand Six Hundred and Fifty-three Naira Eighteen Kobo), with the intent of promoting the carrying on of specified unlawful activity to wit: Obtaining by false pretence.”

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Another count reads: “Ismaila Mustapha, on or about the 20th day of October 2019 in Lagos, within the jurisdiction of this Honourable Court, failed to furnish any information in relation to your interest in expensive wristwatches and other movable assets: ROLEX OYSTER PERPETUAL WRISTWATCH, AUDEMARS PIGUET WRISTWATCH, AUDEMARS PIGUET-J46220 WRISTWATCH, XY HUBLOT-1321920 WRISTWATCH, XY HUBLOT-924206 WRISTWATCH and iPhone 8 worth over N70,000,000.00 (Seventy Million Naira), as required in page 10 of the Declaration of Assets Forms and you thereby committed an offence.”

Mompha is further accused of using a false document titled “SELECT MILK PRODUCER J.P. Morgan”, to defraud Continental Diary Facilitate Southwest LLC.

The EFCC also accused him of colluding with one Olayinka Jimoh (aka Nappy Boy) to retain an aggregate sum of N52, 000,000 between January 28, 2019, and February 11, 2019, believed to be proceeds of criminal conduct.

Justice Dada adjourned his trial till January 18, 2022 for “hearing of the bail application”, while the defendant was remanded in the custody of the EFCC.

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