EFCC Re-arrests Mompha over N32.9bn Alleged Money Laundering

Kingsley Nwezeh in Abuja

Operatives of the Lagos Command of the Economic and Financial Crimes Commission (EFCC), yesterday re-arrested a suspected internet fraudster, Ismailia Mustapha over allegations that he laundered funds obtained through unlawful activities as well as for alleged retention of proceeds from the crime.

The suspect is currently standing trial alongside his company, Ismalob Global Investment Limited, 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.

Mompha had been arrested on October 18, 2019, at the Nnamdi Azikiwe International Airport while boarding an Emirates Airline Flight to Dubai, by staff of the Nigeria Immigration Service, following a watch list by the EFCC.

He was alleged to have used his registered companies to receive illicit funds on behalf of “yahoo yahoo” boys from across the world in return for commission.

The account of one of his companies, Ismalob Global Investment Limited Bank, a Bureau de Change Company, domiciled in Zenith Bank Plc, was allegedly used to launder funds derived from unlawful activities.

The EFCC said investigation revealed a fraudulent transfer slip of $92, 412,75 found in the suspect’s IPhone 8 device.

He will soon be charged to court.