The trial of Internet personality Ismaila Mustapha aka Mompha is scheduled to continue on January 15th, 2020 at a Federal High Court in Lagos.
Mompha was apprehended by EFCC operatives at the Nnamdi Azikiwe Airport in Abuja on October 19th. He was subsequently arraigned before the court on November 25th on a 14-count charge relating to Money Laundering and suspected internet fraud. His company, Ismalob Global Investment, was also implicated in the case.
The EFCC accused Mompha of using Ismalob Global Investment, his company, to retain a total sum of N18.05 billion between 2015 and 2019. In addition, he was alleged to have facilitated the retention of N14.9 billion between 2015 and 2017, without adhering to the financial transaction requirements stipulated by the Central Bank of Nigeria (CBN) and the Federal Ministry of Trades and Investment.
Mompha and his firm were also charged with unlawfully engaging in a Foreign Exchange transaction totaling N630, 125, 900 million for certain individuals. These alleged actions violated Sections 18(c) and 15(2)(d) of the Money Laundering Prohibition Act, 2011, and are punishable under Section 15 (3) of the same Act, according to the EFCC.
Mompha was granted bail by the court on November 29th and was released on December 9th after meeting his bail conditions.