N6.5bn Fraud: EFCC Resumes Mompha’s Trial In Absentia

The Economic and Financial Crimes Commission (EFCC) has called its sixth witness in the ongoing trial of social media celebrity, Ismailia Mustapha, also known as, Mompha, who is facing trial over an alleged N6.5 billion money laundering case.

Mompha was arraigned alongside his firm, Ismalob Global Investment Limited, before Justice Mojisola Dada of the Lagos State Special Offences Court in Ikeja over an eight-count charge of conspiracy to launder funds obtained through unlawful activity.

But on November 16, 2022 the EFCC informed the judge that the defendant had jumped bail and that all efforts to re-arrest him had failed.

The development made the court order that the trial of Mompha will continue in absentia after it revoked his bail.

The anti-graft agency had also alleged that the defendant retained the funds, transferred the funds to a suspect Olayinka Jimoh a.k.a Nappy Boy, and unlawful transfer funds for a record label, among others.

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The following sums were listed by the anti-graft agency to have been laundered by the defendant including N5,998,884.653.18, N32 million, N120 million and N15,960,000, totalling over N6.5 billion.

The commission further alleged that Mompha concealed his interest in inexpensive wristwatches and other movable assets valued at over N70 million.

He, however, pleaded not guilty to the eight counts while Islamob Limited (represented by Mompha) which was named in the first six counts also pleaded not guilty.

At the resumption of the trial, the EFCC counsel, Sani Suleiman called the witness, Elijah Adegboye, a compliance officer with Access Bank, who told the court that the bank received an investigation letter from an anti-graft agency asking it to supply some documents.

Adegboye testified that in compliance with the request of the EFCC, the bank furnished the anti-graft agency with the requested documents.

He thereafter identified the said response of the bank to EFCC, which was a bundle of documents that included the statement of account of one Naptown Records.

He said, “I confirm that the various entries stated in this statement of account are as contained in the bank’s database

“The process of the production of this document is in the normal process of business and the computer and printer used were in a functional state as at the time the documents were generated.”

Thereafter, the prosecutor applied to tender the bundle of documents in evidence against the defendant.

There was no objection from the defence counsel, Kolawole Salami.

The bundle of documents was thereafter admitted as an exhibit against Mompha.

Under cross-examination by Salami, the witness confirmed that he was a compliance officer with the bank and had more than a decade of experience working with the bank.

He testified further under cross-examination that, “Access Bank engages in a lawful business and is a lawful corporate organization.”