Mompha Admits to Fraud Says EFCC

Ismaila Mustapha, popularly known as Mompha
  • Mompha Admits to Fraud Says EFCC

The Economic and Financial Crime Commission (EFCC) has finally released an update on its recent arrest of a renowned social media celebrity, Ismaila Mustapha, popularly knows as Mompha.

According to the EFCC, Mompha was arrested for alleged involvement in internet-related fraud and money laundering.

In the statement released via its official website, the commission stated: “The suspect, a premium and first class customer of one of the popular international airlines, was arrested on Friday 18, October 2019 at the Nnamdi Azikiwe International Airport, Abuja on his way to Dubai Emirate following series of intelligence reports received by the Commission.

EFCC operatives said “actionable cross border intelligence received from collaborative law enforcement agencies about his alleged involvement in the criminal activities further strengthened our suspicion.”

“Ismaila who allegedly perpetrates his fraudulent activities under the guise of being a Bureau de Change operator is always seen with his little son flaunting huge amount of foreign currencies on his social medial platforms.

“Investigations have also revealed that Ismaila is only using the BDC business, he jointly owned with his siblings, as a decoy to launder his proceeds of crime.

“However, the suspect has volunteered useful information to the operatives and has admitted to be reasonably involved in the first two cases he was alleged to be involved.

“At the point of arrest, five wristwatches with a total worth of over twenty million naira (N20, 000, 000: 00) was recovered from him.”

Mr. Mompha, according to the commission, will soon be charged to court.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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