EFCC Witness Gives Details Of How Mompha Allegedly Laundered N30Bn Proceeds Of Fraud

A staff of the Economic and Finance Crimes Commission, EFCC, in the Land and Property Fraud Unit, Lagos, Idi Musa on Monday gave evidence in court on how embattled suspected internet fraudster, Ismaila Mustapha, alias Mompha, and Ismalob Global Investment Limited, his company were linked to Advance Fee fraud and other fraud related offences.

The defendant and his company, Ismalob Global Investment Limited are facing an eight-count charge of 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 an unlawful act.

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 ( Five Billion Nine Hundred and Ninety-eight Million Eight Hundred and Eighty-four Thousand Six Hundred and Fifty-three Naira Eighteen Kobo), with the intent of promoting the carrying on of specified unlawful activities to wit: obtaining by false pretence.

Another reads in part, “On about the 28th day of January 2019, in Lagos within the jurisdiction of this Honourable court with intent of promoting Olayinka Jimoh also known as Nappy Boy in the carrying on of unlawful activities, conducted financial transaction in the the aggregate sum of N32m, which some in part involves the proceeds of a specified unlawful activity to which obtaining money by false pretence.”

Detective testified against Mompha in absentia

After being sworn on oath at today’s trial, the sixth prosecution witness testified against the defendants in absentia before Justice Mojisola Dada of Special Offences Court, Ikeja.

Musa told the court that based on the combine efforts of the EFCC and Federal Bureau of Investigation forensic analysis, discovered that N30 billion passed through the account of the first defendant, (Ismaila Mustapha) to Fidelity Bank.

“Also, about 5 billion in Zenith Bank was linked to the second defendant.”

Musa, while being led in evidence by the prosecution counsel, Suleiman I. Suleiman, told the court that the defendant claimed in his statements to the Commission that he is running a Bureau De Change without a licence and claimed ignorance of the law.

According to the detective, he explained that during investigations, the first defendant’s handset which is an Iphone 8 was recovered from him at the time of his arrest in an Emirate flight when he was about escaping Nigeria sometime on 18th October, 2019.

He informed the court that in communications between the EFCC and FBI, the FBI revealed the content of the defendant’s phone as fraudulent and illegal.

According to him “Printed images found on the phone were stated as a transfer SISIP of 92412.75 United States Dollar were transferred from Intercontinental Diary facility.

Upon further investigation, the witness, disclosed, “Response received from FBI through letter to the Chairman of EFCC and sent to the team, the company was contacted and two staff of the company were interviewed and they confirmed that on the 5th May, 2018, email account of one of the staff of Select milk company, which is a subsidiary company of Diary facility was hacked.”

He told the trial judge that thereafter money was transferred to a fraudulent account, he called, Business Email Compromise.

He explained that those interviewed claimed they never gave instruction of such transfer but got a notification by cyber crime fraudster.

He however noted that the EFCC were able to recover $80,000 from the fraudsters and $12,412.75 was missing, that the fraudster had made away with that from the company despite their effort.

He continued that more discovery was made in the account of the 2nd defendant’s Zenith Bank account.

He claimed, “Series of payment in that account appeared suspicious.”

The investigator also told the court that it was found out that one Olayinka Jimoh, a.k.a. Nappy Boy was a beneficiary.

He said Olayinka made confessional statement that he used to involve in many internet fraud across the border.

Quoting Olayinka, the witness stated, “He said he met the first defendant, Ismaila Mustapha, alias Mompha face-to-face in Dubai and that Mompha told him that he picks money for Yahoo Boys.

Giving context into what he meant by pick money, Musa explained that pick money or a Picker is someone who belong to syndicate of internet fraudster.

Fraud suspect says Mompha provided account

Quoting Olayinka further, Musa continued, “Ismaila Mustapha provides him with an account where money is transferred into.

He said the Picker will take percentage of the successful amount transfered. He said sometimes it’s 20 per cent and if they were able to launder the money successfully, the picker will now pay them in Naira in Nigeria.

“And that indeed the 2nd defendant used account to transfer the proceed of crime.

He added that investigations also revealed that the first defendant retained money in his account, the 2nd defendant.

“This unlawful proceeds of the internet fraud, over N212million that was given to Olayinka Jimoh…and relation was received from the 1st defendant.

Musa told the court that the major creditor who paid money into the first defendant account was invited, Hassan Zein, a Lebanese, businessman in Kano, Nigeria who usually sourced dollars from his contact called Khalid for his business purchases.

The witness told the court,”90 per cent of the Naira equivalent paid by by Hassan Zein were transferred to Olayinka Jimoh (Nappy) which Nappy told us he received, either through his personal or company’s account.

The EFCC witness added that during the course of arrest, all the items and properties recovered from the defendants were registered with our exhibit department, but all of the property except the phone were released to Mompha based on court order.

“We believed they were reasonably acquired with proceeds of crime because when he was given assets declaration form, he could not include them. The first defendant declared his assets, he did not include those assets.

Lawyer to Mompha says he needs to study exhibits

Meanwhile, the judge admitted two documents tendered as exhibits by the prosecuting counsel, they are; the statement of first defendant and asset declaration form.

But the defence counsel, Kolawole Salami argued that the documents were not part of the proof of evidence, stating that his colleague told him during the testimony of the investigator that it was served on Friday when he was not in office.

According to him ,”Against the background of this information, I haven’t gone through the said documents, we will not be objecting but we will not be proceeding with cross examination, regard with the assets declaration form we reserve our right to object to it.”

Justice Dada further adjourned the case proceeding till Tuesday, October 8, 2024 for continuation of trial.