The fourth prosecution witness, (PW4), Enu Matthew Obun, in the trial of Ismaila Mustapha, A.K.A. Mompha on Wednesday, January 15, 2020, told a Federal High Court, Ikoyi, Lagos presided over by Justice Abdullahi M. Liman that the suspected internet fraudster ran an illegal bureau de change with his company, Ismalob Global Investments Limited.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Mompha alongside the company on a 14-count charge, bordering on cyber fraud and money laundering to the tune of N33 billion (Thirty-three Billion Naira).
According to the EFCC, Mompha, who is the first defendant in the matter is alleged to have used the company to launder funds, part of which he used to acquire properties in Dubai, United Arab Emirates.
Led in evidence by prosecution counsel, Rotimi Oyedepo, the witness, a compliance officer with the Special Control Unit Against Money Laundering (SCUML), of the EFCC, told the court that on November 15, 2019, the Commission requested from SCUML the regulation and compliance status of the company and that “upon inspection, it was discovered that Ismalob is not registered with the SCUML.”
He further stated that “From the database search in the office, there is no information on Ismalob Global Investment Limited and all the transactions that were done in the company’s account between December 14, 2015 and January 25, 2018 are not on SCUML’s record.”