The Economic And Financial Crimes Commission has arraigned Ismailia Mustapha, otherwise known as Mompha and his firm, Ismalob Global Investment Limite
The agency arraigned Mompha and Ismalob before Justice Mojisola Dada of an Ikeja Special Offences Court on eight counts bordering on the offences on Wednesday, January 12, 2022.
The defendants were accused of conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect Olayinka Jimoh aka Nappy Boy, and unlawful transfer of funds for a record label, among others.
The sums named in the charges are N5,998,884.653.18, N32 million, N120 million and N15,960,000; totalling over N6 billion.
The EFCC also alleged that Mompha concealed his interest in expensive wristwatches and other movable assets valued at over N70 million.
Mompha pleaded not guilty to the eight counts while Islamob Limited (represented by Mompha) was named in, pleaded not guilty as well to the first six counts.
Mompha is also standing trial alongside Ismalob Global Investment Limited on an amended 22-count charge bordering on cyberfraud and money laundering to the tune of N32.9bn brought against him by the EFCC.
He pleaded not guilty to each of the counts.
