January 10, (THEWILL) – The last may not have been heared about the case between Economic and Financial Crimes Commission and Dubai based ‘instagram billionaire’, Ismaila Mustapha otherwise known as Mompha.
Operatives of the anti graft agency, Lagos state command, on Monday, re-arrested him for allegedly laundering funds obtained through unlawful activities and retention of alleged proceeds of crime.
Mompha is currently standing trial alongside his company, Ismalob Global Investment Limited, a bureau de change on an amended 22-count charge bordering on cyber fraud and money laundering to the tune of N32.9 billion brought against him by the EFCC.
He is accused of using the account of his company, domiciled in Zenith Bank Plc to launder funds derived from unlawful activities as a fraudulent transfer slip of $92, 412, 75 wasfound in his iPhone 8 device.
Mompha in 2019 was arrested by the Nigeria Immigration Service at the Nnamdi Azikiwe International Airport while boarding an Emirates Airline flight to Dubai, following a watchlist by the EFCC.
Mompha is alleged to have used his registered companies to receive illicit funds on behalf of cyber fraudsters from across the world in return for commissions.
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