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N33BN FRAUD: Witness accuses Mompha of running illegal bureau de change

The fourth prosecution witness (PW4) Enu Matthew Obun, in the trial of Ismaila Mustapha, also known as Mompha, on Wednesday, January 15, 2020, told a Federal High Court in Ikoyi-Lagos, how the suspected internet fraudster ran an illegal bureau de change with his company, Ismalob Global Investments Limited.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Mompha alongside the company on a 14-count charge, bordering on cyber fraud and money laundering to the tune of N33 billion before Justice Abdullahi M. Liman.

Mompha, who is the first defendant in the matter, is alleged to have used the company to launder funds, part of which he used to acquire properties in Dubai, United Arab Emirates.

Led in evidence by the prosecution counsel, Rotimi Oyedepo, the witness, a compliance officer with the Special Control Unit Against Money Laundering (SCUML), of the EFCC, told the court that on November 15, 2019, the commission requested from SCUML the regulation and compliance status of the company and that “upon inspection, it was discovered that Ismalob is not registered with the SCUML.”

He further stated that “From the database search in the office, there is no information on Ismalob Global Investment Limited and all the transactions that were done in the company’s account between December 14, 2015 and January 25, 2018, are not on SCUML’s record.”

The EFCC letter of request and the response from SCUML were admitted in evidence by the court.

Justice Liman adjourned the matter until February 26, 2020 for continuation of trial.
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