Nigerian businessman and web movie star, Ismaila Mustapha, popularly referred to as Mompha has been arraigned by the Financial and Monetary Crimes Fee (EFCC).
He was arraigned alongside his agency, Ismalob International Funding Restricted earlier than Justice Mojisola Dada of the Particular Offences Court docket sitting in Ikeja, Lagos on eight prices bordering on alleged cash laundering of over 6billion naira.
The offence is opposite to related sections of the Advance Charge Fraud Act of 2006 and the EFCC Act of 2004.
Within the counts, the defendants had been accused of conspiracy to launder funds obtained by illegal exercise, retention of such funds, switch of funds for a suspect Olayinka Jimoh popularly referred to as Nappy Boy, and illegal switch of funds for a report label, amongst others.
The EFCC additionally alleged that Mompha hid his curiosity in costly wristwatches and different movable property valued at over 70 million naira.
Mompha pleaded not responsible to the costs on behalf of his firm, Islamob Restricted.
Justice Dada has ordered his remand within the custody of the EFCC until January 18th when his bail utility can be heard.
That is the second case wherein the EFCC is charging Mompha. He’s standing trial for the primary on the Federal Excessive Court docket, Lagos on an amended 22-count bordering on cyber-fraud and cash laundering to the tune of 32.9bn naira.
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He was re-arrested by operatives of the EFCC on January 10, for laundering funds obtained by illegal actions and retention of alleged proceeds of crime.