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Court remands Mompha in prison over alleged money laundering worth over N6billion for singer Nappyboy

Ismaila Mustapha, commonly known as Mompha, has been remanded in the custody of the Economic and Financial Crimes Commission (EFCC) until the hearing of his bail plea at a Lagos Special Offence Court sitting in Ikeja.
After he was arraigned on an eight-count allegation of facilitating online fraud and possessing bogus documents, Justice Mojisola Dada demanded that he be held in custody indefinitely.

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Mompha and his company, Global Investment Limited, were charged with conspiracy to launder funds obtained through illegal activity, retention of such funds, transfer of funds for a suspect, Jimoh Olayinka Dolapo a.k.a. Nappy Boy, the owner of NapTown Records, and unlawful transfer of funds for a record label, among other things.

According to instablog9ja;

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The sums named in the charge are N5,998,884.653.18, N32million, N120million 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 on his part, pleaded “Not guilty” to the eight counts while Islamob Limited was named in and pleaded “not guilty” to the first six counts. Justice Dada adjourned till January 18, 2022, to hear and rule on a bail application filed by the defendant’s counsel, Gboyega Oyewole.

It would be recalled that Mompha is also standing trial at the Federal High Court in Lagos alongside Ismalob Global Investment Limited on an amended 22-count charge bordering on cyberfraud and money laundering to the tune of N32.9billion brought against him by the EFCC. He pleaded not guilty to each of the counts

Author: Editor

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