Dubai-based Nigerian businessman, Ismaila Mustapha a.k.a Mompha will be arraigned before Justice Mohammad Liman of the Federal High Court in Lagos on Monday November 25, praizenews report.

The EFCC filed a 14 charge of alleged fraud and money laundering against Mompha who they accused in its first charge of procuring Ismalob Global Investment Ltd between 2015 and 2018 to retain the sum of N18m in its account, a sum suspected to be proceeds of crime.

This is coming after Mompha sued the anti-graft agency, demanding N5m in damages over an alleged violation of his fundamental human right.

Source ; http://www.praizenews.com/efcc-to-arraign-mompha-on-monday-for-alleged-fraud-read-the-14-count-charge-against-him/


Cc lalasticlala Mynd44 Seun

Lalasticlala

pinf

Ostensibly, these charges are bereft of intelligence. The first three counts stated that he ought to have known that the proceeds being paid to his company's account are proceeds of unlawful act. Like WTF, is he some kind of prophet to have known the funds were unlawful. You don't see FBI chasing Ferrari, Lambo, and the likes because some guy bought a fancy sport car with unlawful fund. They go after the individual, not the company since the company only rendered a service being paid for. They don't expect the company to investigate the financial pattern of every individual they want to do business with. Should Mompha be able to provide a proof of rendering the service being paid for, then EFCC has lost on those three counts.

As it stands, considering the other counts, the only reasonable indictment here is that he Mompha, operated as an unlicensed bureau de change operator. If peradventure, it can be proven that the indicted obtained foreign exchange licence then all other counts holds no ground except for count 14 where he was accused of failing to submit declaration of his business activities to Federal Ministry of Industry.

Personally, I don't think Mompha can be so stupid to have paraded himself that much as a BDC operator without having the required licence.

Guy don lean already. Na wao. Baba God abeg, make I nor chop the one wey nor be my own O. Let me come and paddle my canoe SEF.

OMG, see as EFCC is grasping at straw to convict this guy. See mumu charges, operating illegally without permit from CBN. Where are all the charges about his Business Email Compromise scam? So EFCC just arrested this guy without any concrete investigation? Is this how FBI is prosecuting Invictus Obi? Magu’s EFCC is pathetic, so all the media trial of this Mompha was just for clout.

So if he didn't sue you ppl won't arrange him?

I thought they were closing in on the issue

I thought he sued them for 5 million in damage
now his been charged with 14 counts


last last na 6-12 months in cell

or he walks out to forfeit some properties to the government

Bet it

Godfrey858:
I thought he sued them for 5 million in damage

now his been charged with 14 counts



last last na 6-12 months in cell


or he walks out to forfeit some properties to the government


Bet it

Sentence is not likely as he as not been directly linked to any international or local scam. He is only being accused of operating outside due procedure. I foresee withdrawal of his business registration, and a heavy penalty through asset forfeiture due to unlicensed operation.

No hate.
I dedicate this song 2u.
That year of jay z,rkelly.
Timberland boot days.
God why was i in js3 then


https://www.youtube.com/watch?v=aCHB4GCyufE

Mompha hail me.
U r coming out by on tuesday

He should be jail asap

Hope this case won't last for 4 years

iEatAnus:
Ostensibly, these charges are bereft of intelligence. The first three counts stated that he ought to have known that the proceeds being paid to his company's account are proceeds of unlawful act. Like WTF, is he some kind of prophet to have known the funds were unlawful. You don't see FBI chasing Ferrari, Lambo, and the likes because some guy bought a fancy sport car with unlawful fund. They go after the individual, not the company since the company only rendered a service being paid for. They don't expect the company to investigate the financial pattern of every individual they want to do business with. Should Mompha be able to provide a proof of rendering the service being paid for, then EFCC has lost on those three counts.

As it stands, considering the other counts, the only reasonable indictment here is that he Mompha, operated as an unlicensed bureau de change operator. If peradventure, it can be proven that the indicted obtained foreign exchange licence then all other counts holds no ground except for count 14 where he was accused of failing to submit declaration of his business activities to Federal Ministry of Industry.

Personally, I don't think Mompha can be so stupid to have paraded himself that much as a BDC operator without having the required licence.

All the charges are watery and nonsensical. Mompha doesn't need any useless CBN license to exchange privately owned/procured dollars for naira, since the FX weren't procured from the CBN. Virtually every young man I know was involved in this FX marketing hustle particularly between 2015 and 2017 when dollar price skyrocketed. They sourced dollars from abroad and sold to Nigerians who need FX to buy items abroad. Even many bankers were involved. Why is Mompha being singled out? Where are the allegations of yahoo/fraud in all of this, which is the main thing that was sensationalised by the EFCC and media?

I can't believe that in spite of all the noise the EFCC has made, this is the only bad belle nonsense charges they can come up with. I'm truly ashamed and afraid for Nigeria. This is sickening.

cornoil:
OMG, see as EFCC is grasping at straw to convict this guy. See mumu charges, operating illegally without permit from CBN. Where are all the charges about his Business Email Compromise scam? So EFCC just arrested this guy without any concrete investigation? Is this how FBI is prosecuting Invictus Obi? Magu’s EFCC is pathetic, so all the media trial of this Mompha was just for clout.

.
Nigeria is a sad joke. Everything is upside down. Very useless country with dead institutions.

Hedonini:


All the charges are watery and nonsensical. Mompha doesn't need any useless CBN license to exchange privately owned/procured dollars for naira, since the FX weren't procured from the CBN. Virtually every young man I know was involved in this FX marketing hustle particularly between 2015 and 2017 when dollar price skyrocketed. They sourced dollars from abroad and sold to Nigerians who need FX to buy items abroad. Even many bankers were involved. Why is Mompha being singled out? Where are the allegations of yahoo/fraud in all of this, which is the main thing that was sensationalised by the EFCC and media?

I can't believe that in spite of all the noise the EFCC has made, this is the only bad belle nonsense charges they can come up with. I'm truly ashamed and afraid for Nigeria. This is sickening.

You are quite right with the boded. I can very well recall that CBN once established the Green Market, and the Black Market as viable alternatives to getting FX.
I see Mompha getting exonerated on this.