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Mompha gets N200m bail in alleged money laundering trial

Mompha gets N200m bail in alleged money laundering trial

Posted: January 18, 2022 at 9:32 am   /   by   /   comments (0)

Justice Mojisola Dada of an Ikeja Special Offences Court has granted alleged internet fraudster, Ismailia Mustapha, aka Mompha, bail in the sum of N200 million.

The Dubai-based internet celebrity is facing prosecution over alleged money laundering to the tune of N6 billion.

The court granted him bail following an application for bail filed by his lawyer, Gboyega Oyewole (SAN).

In granting him bail, Justice Dada ordered that one of two sureties must own property valued at N100 million within the jurisdiction.

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The court also ordered his remand in the custody of a Correctional Centre of his choice in Lagos pending perfection of his bail conditions while his international passport already submitted is to remain in custody of the court’s registrar.

The Economic and Financial Crimes Commission (EFCC) arraigned Mompha and his firm, Ismalob Global Investment Limited for alleged money laundering to the tune of over N6 billion.

He is facing an eight-count charge bordering on the offences of money laundering.

The counts were conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect Olayinka Jimoh a.k.a Nappy Boy, and unlawful transfer of

funds for a record label, among others.

Mompha pleaded “Not guilty” to the eight counts while his company, Islamob Limited pleaded “not guilty” to the first six counts.

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