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Mompha In N6 Billion Mess

Instagram celebrity, Mompha (Ismaila Mustapha) is in big trouble.

An Ikeja Special Offence Court has ordered that he be detained by the Economic and Financial Crimes Commission (EFCC) over allegations of conspiracy to launder N5.9 billion.

Mompha was arraigned alongside his company, Ismalob Global Investment Ltd on a fresh eight-count charge of fraud.

Mompha is also currently facing trial at the Federal High Court Lagos on a 22-count fraud charge proffered against him by the EFCC.

Other charges are the use of property derived from an unlawful act, possession of documents containing false pretence and failure to disclose assets and properties.
EFCC revealed that Mompha committed the alleged offence between 2016 to 2019 in Lagos.

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Mompha is alleged to have conspired alongside Ahmadu Mohammed now at large to conduct N5.9 billion worth of financial transactions with the intent of committing the offence of obtaining by false pretence.

The prosecution alleges that the defendant also conducted other illegal transactions.

“On Jan. 28, 2019, the defendant and his company, with the intent of promoting one Olayinka Jimoh alias ‘Nappy Boy’ conducted unlawful financial transactions in the sum of N32million.”

“The said sum involves the proceeds of a specified unlawful activity which is obtained by false pretence.”

“On Feb. 11, 2019, he retained the aggregate sum of N20million on behalf of Jimoh which he was aware that the said sum was proceeds of Jimoh’s criminal conduct (obtaining by false pretence).”

EFCC added that Mompha on Feb.11, 2019, transferred the sum of N15.9 million to Naptown Records and on Feb. 13, 2019, transferred the sum of N20 million to Wisegate Sleek System.