Ismailia Mustapha, popularly known as Mompha, has been re-arrested by the Economic and Financial Crimes Commision (EFCC).
In the past few years–he has been arrested by the EFCC over and again–for the very same charges–money laundering.
And none of the charges have ever stuck.
This Monday, he was arrested again for ‘laundering funds obtained through unlawful activities and retention of alleged proceeds of crime.’
A statement issued by EFCC read in part: “The suspect is currently standing trial alongside his company, Ismalob Global Investment Limited on an amended twenty two-count charge bordering on cyber fraud and money laundering to the tune of N32.9bn brought against him by the EFCC.”
In October 2019, Mompha was arrested in Lagos while trying to depart for Dubai.
EFCC had accused him of using his registered companies to receive illicit funds on behalf of a highly organised fraud ring flung and scattered across the globe for a profit.
He was also accused of using the account of one of his companies, Ismalob Global Investment Limited Bank, a Bureau de Change Company, to launder funds derived from unlawful activities.
Although ‘evidence’ of a fraudulent transfer slip of $92, 412, 75 was ‘found’ in the suspect’s IPhone 8 device, all the charges failed to stick in court.
EFCC has revealed that he will be charged to court soon.