Ismail Mustapha, a.k.a. Mompha
Alleged N32.9bn Fraud: EFCC Asks Court To Dismiss Mompha’s ‘No Case Submission’
The Economic and Financial Crimes Commission (EFCC) today, urged Justice Mohammed Liman of a Lagos Federal High Court, to dismiss the ‘no case submission’, filed by alleged internet fraudster, Ismail Mustapha, alias Mompha, who is standing trial over alleged N32.9 billion fraud.
EFCC’s counsel, S. I. Sulaiman, stated this in a counter to Mompha’s no case submission application, which were adopted before the court today.
In urging the court to dismiss Mompha’s no case submission, the prosecutor, Sulaiman said based on the evidence adduced and exhibits tendered, the prosecution have been able to link the defendants with the alleged offences, which will warrant the court to direct the accused to give some explanations.
He consequently urged the court dismiss the application and order him to open his defence.
Mompha through his lawyer, Gbenga Oyewole (SAN) has opted to file a no case submission, after the EFCC had called 10 witnesses who testified in a 22 count-charge against him and his firm, Ismalob Global Investment Limited, on the alleged fraud.
Oyewole (SAN) in urging the court to uphold his client’s no case submission, said the prosecution has failed to link his client, Mompha, to any count of the alleged offences.
Justice Liman has adjourned till November 15, 2020, for ruling on the no-case-submission.
In the charges, the EFCC alleged that between 2015 and 2018, Mompha procured Ismalob Global Investment Limited to retain an aggregate of N32.95bn in its bank account.
The EFCC said he ought to have reasonably known that the funds formed parts of proceeds of an unlawful act; to wit: fraud.
Furthermore, the EFCC alleged that not being an authorised buyer of foreign exchange currency appointed by the CBN, Mompha negotiated several foreign exchange transactions with different individuals in the sums of N20m, N22.3m, N30m, N100m and N40.7m.
He was also accused of making cash payments of €299,000, €213,675, €273,000 to one Ahmed Sarki, said to be deceased.
These offences were said to be contrary to Section 18(c), 15(2)(d), 15(3) and Section 10 of the Money Laundering (Prohibition) Act.
The EFCC said Mompha and Ismalob Global Investment Limited also violated sections 5 and 29(1)(c) of the Foreign Exchange Monitoring and Miscellaneous (Provisions) Act Cap F34 LFN 2004.
The defendants, however, pleaded not guilty.