Alleged N33bn fraud: Witness exposes Mompha’s illicit BdC Operations

One of the witnesses in the trial of Ismaila Mustapha, A.K.A. Mompha, has narrated how the suspected internet fraudster ran an illegal bureau de change with his company, Ismalob Global Investments Limited.

Enu Matthew Obun, who is the fourth prosecution witness, appeared before a Federal High Court, Ikoyi, Lagos presided over by Justice Abdullahi M. Liman on Wednesday.

The EFCC is prosecuting Mompha alongside the company on a 14-count charge, bordering on cyber fraud and money laundering to the tune of N33 billion.

Mompha, who is the first defendant in the matter, is alleged to have used the company to launder funds, part of which he used to acquire properties in Dubai, United Arab Emirates.

Led in evidence by prosecution counsel, Rotimi Oyedepo, the witness, a compliance officer with the Special Control Unit Against Money Laundering (SCUML), of the EFCC, 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.”

He further stated 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.”

The EFCC letter of request and the response from SCUML were admitted in evidence by the court. Justice Liman adjourned the matter until February 26, 2020 for continuation of trial.

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