N33bn Fraud: Witness Exposes Mompha’s Illicit Bureau de Change Operations

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A prosecution witness has exposed how alleged internet fraudster, Mompha used his company to launder funds, part of which he used to acquire properties.

Mompha is being prosecuted by The Economic and Financial Crimes Commission (EFCC) alongside the company, on a 14-count charge, bordering on cyber fraud and money laundering to the tune of N33 billion.

According to EFCC, the fourth prosecution witness, Enu Matthew Obun, on Wednesday, January 15, 2020, told a Federal High Court, Ikoyi, Lagos, which was presided over by Justice Abdullahi Liman, that the suspected Internet fraudster ran an illegal bureau de change with his company Ismalob Global Investments Limited.

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Mompha is believed to have used the company to launder funds, part of which he used to acquire properties in Dubai, United Arab Emirates.

The witness, Rotimi Oyedepo, who is a compliance officer with the Special Control Unit Against Money Laundering (SCUML) told the court that on November 15, 2019, the Commission requested from SCUML the regulation and compliance status of the company and that “upon inspection, it was discovered that Ismalob is not registered with the SCUML.”

Rotimi added that: “From the database search in the office, there is no information on Ismalob Global Investment Limited and all the transactions that were done in the company’s account between December 14, 2015 and January 25, 2018 are not on SCUML’s record.”

Justice Liman adjourned the trial until February 26, 2020.

 

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