MONEY LAUNDERING: COURT GRANTS SOCIALITE MOMPHA N200M BAIL

Justice Mojisola Dada of an Ikeja Special Offences Court has granted a Dubai-based internet celebrity, Ismailia Mustapha, aka Mompha bath of N200 million with two sureties in the like sum.

The court granted his application for bail filed through his lawyer, Gboyeja Oyewole (SAN). Justice Dada ordered that one of two sureties must own property valued at NIOOmillion within the jurisdiction.

The court also ordered his remand in the custody of a Correctional Centre of his choice in Lagos pending perfection of his bail conditions while his international passport already submitted is to remain in custody of the court's registrar.

The Economic and Financial Crimes Commission (EFCC) had arraigned Mompha and his firm, Ismalob Global Investment Limited for alleged money laundering to the tune of over N6billion. He is facing an eight count charge bordering on the offences of money laundering.

The counts were conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect Olayinka Jimoh aka Nappy Boy, and unlawful transfer of funds for a record label, among others. The sums named in the charge seen by The Nation are N5,998,884.653,18, N32million, N120million and N15,9 60,000, totalling over N6billion.

The EFCC also alleged that Mompha concealed his interest in expensive wristwatches and an iPhone valued at over N70million.

They are a "Rolex Oyster Perpetual Wristwatch, Audemars Piguet Wristwatch, Audemars Piguet-J46220 Wristurlach, XY Hublot-1321920 Wristwatch, XY Hublot-924206 Wristwatch and an iPhone 8 with Serial No. CBPVFIKJC6C, worth over N7Omillion.

Mompha pleaded "Not guilty" to the eight counts while his company, Islamob Limited (represented by Mompha also pleaded "not guilty to the first six counts.