Justice Mohammed Liman of the Federal High Court, Lagos, yesterday ordered that alleged internet fraudster, Ismaila Mustapha, aka Mompha, be kept in the custody of the Nigerian Correctional Services.
The court ordered that Mompha be kept behind bars after he pleaded not guilty to a 14-count charge.
The court also fixed Friday, November 29, for the hearing of the defendant’s bail application.
The Economic and Financial Crimes Commission (EFCC) alleged that Mompha laundered the funds through a firm, Ismalob Global Investment Ltd, between 2015 and 2018. Islamob Global Investments is the second defendant in the charge.
The EFCC claimed that the funds, domiciled in Fidelity Bank, were moved in tranches of N18 billion and N14.9 billion.
The commission alleged that Mompha “between 2015 and 2018… procured Ismalob Global Investment Ltd to retain the aggregate sum of N18,059,353,413 in its account No. 5260000846 domiciled in Fidelity Bank Plc, which sum you reasonably ought to have known formed part of the proceeds of unlawful act to wit: fraud’’.
Mompha, between 2015 and 2017, also allegedly aided the company “to retain the aggregate sum of N14.9 billion in its account.
Both actions are contrary to Sections 18(3) and 15(2)(d) of the Money Laundering Prohibition Act.2011, as amended and punishable under Section 15 (3) of the same Act, the agency said.
