Money Laundering: Court Adjourns Mompha’s Trial Till June 2

April 6, 2022

The trial of Ismaila Mustapha, also known as Mompha, and his company, Ismalob Global Investment Limited, before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos continued on Wednesday, April 6, 2022, with both the prosecution and defence giving the court the “report” on the plea bargain being worked on.

In a statement by the Economic and financial Crimes Commission, Mompha was arraigned by the Lagos Zonal Command on January 12, 2022 on eight counts bordering on conspiracy to launder funds obtained through unlawful activity, retention of proceeds of criminal conduct, laundering of funds obtained through unlawful activity, failure to disclose assets and property, possession of documents containing false pretence and use of property derived from unlawful act.

One of the counts reads: “Ismaila Mustapha, Ahmadu Mohammed (at large) and Ismalob Global Investment Limited, sometime in 2016, in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to conduct financial transactions to the tune of N5,998,884,653.18 with the intent of promoting the carrying on of specified unlawful activities to wit: Obtaining by false pretence. “He pleaded “not guilty” to the charges.