Alleged N32.9bn fraud: internet fraudster gets N100m bail

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•Only N598,000 left in Mompha’s bank account, witness tells court

A Federal High Court in Ikoyi on Friday heard that suspected internet fraudster Ismaila Mustapha, alias Mompha, has a bank account balance of only N598,000.

Mompha is accused of retaining an aggregate of N32.9bn in the bank account of his alleged firm, Ismalob Global Investment Ltd, between 2015 and 2018.

The defendant was arraigned by the Economic and Financial Crimes Commission (EFCC) on Monday, alongside Ismalob Global Investment,

The internet celebrity is facing 14 counts of alleged fraud, money laundering and running a foreign exchange business without the authorization of the Central Bank of Nigeria (CBN).

At the opening of trial on Friday, EFCC counsel Mr Rotimi Oyedepo presented three witnesses before Justice Mohammad Liman.

A CBN official, Mrs Anne Ezekannagha, who testified as the first witness, told the court that the CBN had no record of licensing Ismalob Global Investment Limited as a Bureau de Change (BDC) operator.

She said for the CBN to licence a firm as a BDC operator, such firm must show evidence of incorporation as a limited liability company by the Corporate Affairs Commission (CAC).

Source The Nation NG

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