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Money Laundering Charge: Court Orders Mompha To Open His Defence

 

A Federal High Court sitting in Lagos has dismissed the “no- case application” filed by an web celeb, Ismaila Mustapha popularly generally known as Mompha.

Justice Mohammed Liman in his ruling on the “no-case application” held that from the totality of the proof and testimonies of the prosecution witnesses, the court docket is satisfied that the prosecution has established a prima facie case towards the defendants which might warrant them to provide a proof.

The choose, due to this fact, referred to as on Mustapha and his co-defendant to open their defence.

Mompha and his co-defendant, Ismalob Global Investment Limited are at the moment going through a 22 rely felony cost bordering on cash laundering.

READ ALSO: EFCC Confirms Arrest Of Maina’s Fleeing Son, Faisal

The EFCC had alleged that between 2015 and 2018, Mompha procured the corporate stated to be owned by him, Ismalob Global Investment Limited to retain an mixture of N32.95bn in its checking account.

The EFCC stated he must have fairly recognized that the funds fashioned elements of proceeds of an illegal act of fraud.

The EFCC additionally alleged that Mompha’s firm, Ismalob Global Investment Limited, as a delegated non-financial establishment, did not report back to the EFCC inside seven days enormous single lodgments and transfers of N104.8m, N135m, N20m, N150m, N22.3m, N100m and N42m.

“Not being an authorised buyer of foreign exchange currency appointed by the Central Bank of Nigeria, Mompha negotiated several foreign exchange transactions with different individuals in the sums of N20m, N22.3m, N30m, N100m, and N40.7m. And also made cash payments of €299,000, €213,675, €273,000 to one Ahmed Sarki, said to be deceased, the EFCC said”.

These offences are stated to be opposite to Section 18(c), 15(2)(d), 15(3), and Section 10 of the Money Laundering (Prohibition) Act. And sections 5 and 29(1)(c) of the Foreign Exchange Monitoring and Miscellaneous (Provisions) Act Cap F34 LFN 2004.

But Mompha and his firm pleaded not responsible to the cost.

During the trial, the EFCC referred to as 10 witnesses and tendered a number of paperwork, which have been admitted by the court docket.

At the tip of the prosecution’s case, Mompha opted to file a no-case software as an alternative of opening his defence.

His Counsel, Gboyega Oyewole SAN argued that regardless of calling 10 witnesses and tendering a load of paperwork, the EFCC failed to ascertain a prima facie case towards Mompha and his firm.

But the EFCC counsel, S.I. Suleiman, opposed the submission and insisted that the company had substantiated its allegations towards them.

After listening to each events, the court docket adjourned for its ruling.

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