Business EFCC moves against Jim Ovia's Zenith Bank over Mompha's money laundering case


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The Economic and Financial Crimes Commission (EFCC) has revealed how Zenith Bank Plc, allegedly laundered billions of naira for suspected cyber fraudster, Ismailia Mustapha, popularly known as Mompha.
The anti-graft agency said Mompha was re-arrested recently for laundering funds obtained through unlawful activities and retention of alleged proceeds of crime.

EFCC spokesman, Wilson Uwujaren, disclosed this in a statement, titled: ‘EFCC re-arrests Momphja for alleged money laundering.’

Mompha, is currently standing trial alongside his company, Ismalob Global Investment Limited, on an amended 22-count charge bordering on cyber fraud and money laundering to the tune of N32.9 billion brought against him by the EFCC.
Mompha had earlier been arrested by the Nigeria Immigration Service at the Nnamdi Azikiwe International Airport on October 18, 2019, while boarding an Emirates Airline flight to Dubai, following a watchlist by the EFCC.

Mompha is alleged to have used his registered companies to receive illicit funds on behalf of cyber fraudsters from across the world in return for commissions.
The statement said: “The account of one of his companies, Ismalob Global Investment Limited Bank, a Bureau de Change company, domiciled in Zenith Bank plc, was allegedly used to launder funds derived from unlawful activities.
“Investigation has revealed a fraudulent transfer slip of $92, 412, 75 found in the suspect’s iPhone 8 device. He will soon be charged to court.”
In August 2020, Mompha filed a N5 million lawsuit against the EFCC after he was re-arrested by the anti-graft agency when he went to pick up items seized from him at the time.

But the EFCC had said Mompha’s arrest at the time was not connected to the earlier charges against him.
In October 2021, the EFCC had secured the interim forfeiture of five pairs of designer sunglasses, five luxury wristwatches, and an iPhone 8 taken from Mompha.
The designer glasses include Dsquared sunglasses, Tomford-TF586 sunglasses, Cartier-B17C76B sunglasses, Montblanc-MB0045S sunglasses, and Louis Vuitton-Z1186E sunglasses.
The five luxury watches include a Rolex Oyster Perpetual, Audemars Piguet, Audemars Piguet-J46220, XY Hublot-1321920, and an XY Hublot-924206.
Mompha had also threatened to sue the anti-graft agency over what he described as a “libellous” publication in connection with the case brought against him.
 

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