Mompha’s ₦6B fraud case continues despite absence
In a dramatic turn of events, social media celebrity, Ismaila Mustapha, widely known as Mompha, remains at large while his ₦6 billion money laundering case continues in court. An operative of the Economic and Financial Crimes Commission (EFCC), Idi Musa, provided damning testimony against Mompha and his company, Ismalob Global Investment Ltd., highlighting their alleged involvement in extensive cybercrime activities.
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The Allegations
Mompha and his company face eight counts of money laundering, with allegations stemming from intelligence received by the EFCC from the Federal Bureau of Investigation (FBI). The FBI informed the EFCC that Mompha and Ismalob Global Investment Ltd. were deeply involved in a sophisticated cybercrime syndicate operating between Nigeria and the United States, popularly known as “yahoo yahoo.” This syndicate is accused of defrauding numerous internet users, leading to significant financial losses.
Testimony by Idi Musa
During his testimony, EFCC operative Idi Musa detailed the investigation process, which began in 2019 following the FBI’s tip-off. Musa explained that the EFCC requested account statements from Zenith Bank and Fidelity Bank, both of which were linked to Mompha. The analysis of these accounts revealed staggering sums of money: ₦30 billion in Mompha’s Fidelity Bank account and approximately ₦5 billion in his Zenith Bank account.
Musa further testified that letters were sent to various agencies, including the FBI, the Special Fraud Unit of the EFCC, the Central Bank of Nigeria, and other relevant bodies, to gather more information about Mompha’s activities. Despite these efforts, locating Mompha proved challenging as he did not reside in Nigeria, complicating the investigation.
The Arrest and Escape Attempt
In October 2019, a breakthrough occurred when the Nigeria Immigration Services were alerted to arrest Mompha upon his arrival in Nigeria. However, Mompha, learning of the EFCC’s pursuit, attempted to flee the country. On October 18, 2019, he was intercepted at the airport just as he was about to board a flight. The EFCC apprehended him along with his properties, marking a significant development in the case.
False Representation and Asset Declaration
Musa’s testimony also revealed that Mompha falsely claimed to be engaged in the Bureau De Change (BDC) business. This misrepresentation was proven false during the investigation. Additionally, Mompha failed to declare all his assets on the assets declaration form provided by the EFCC. Notably, while most of the properties seized from him were returned on bond, his iPhone 8 remained with the EFCC as it was deemed crucial evidence in the ongoing investigation.
Proceeds of Crime
The EFCC’s investigation uncovered that the assets seized from Mompha were proceeds of crime. The combination of the FBI’s intelligence and evidence from Mompha’s iPhone, which was used to send account details to a UAE phone number and search for swift codes of banks, bolstered the case against him. These findings painted a grim picture of Mompha’s alleged involvement in extensive money laundering and cybercrime activities.
Court Proceedings and Exhibits
The prosecution, led by EFCC counsel Suleiman Suleiman, presented two key documents as evidence: the statement of the first defendant and the asset declaration form. These documents were admitted into evidence and labeled exhibit P5 and P6, respectively. Justice Mojisola Dada, presiding over the case, adjourned the trial until October 8 for further proceedings.
Public Reaction and Implications
The case against Mompha has attracted significant public attention, with many closely following the developments. The allegations of such a massive fraud involving a high-profile celebrity have sparked discussions about the prevalence of cybercrime and money laundering in Nigeria. The EFCC’s pursuit of Mompha, despite his fugitive status, underscores the agency’s commitment to combating financial crimes and bringing perpetrators to justice.
