During the trial of Ismaila Mustapha (also known as Mompha), the sixth prosecution witness, Idi Musa, told Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos about the discovery of N35 billion in two bank accounts linked to the defendant.
The Economic and Financial Crimes Commission (EFCC) arraigned Mompha and his company, Ismalob Global Investment Limited, on charges including conspiracy to launder funds, retention of proceeds of criminal conduct, and failure to disclose assets.
Musa, an EFCC investigator, informed the court about receiving intelligence from the FBI that Mompha was involved in cybercrime in the US.
The investigation into Mompha’s activities revealed heavy fund flows through his bank accounts, totaling over N30 billion in one account and about N5 billion in another.
Despite claiming to be in the Bureau De change business, the investigation showed that he was not. The witness also mentioned that Mompha’s iPhone was used to send account details to a UAE phone number, indicating involvement in illegal activities. Mompha had fled the country to evade arrest, and upon his return, he was arrested by the Nigerian Immigration Services and handed over to the EFCC.
The investigation led to the conclusion that Mompha’s activities bordered on money laundering and operating a Bureau De Change without a license.
The prosecution presented Mompha’s statement and Asset Declaration Form as evidence, and the court adjourned the case until Tuesday, October 8, 2024, for the continuation of the trial.
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