Saturday, November 26, 2022

Money Laundering: Court Adjourns Mompha’s Trial Till June 2

The trial of Ismaila Mustapha, also known as Mompha, and his company, Ismalob Global Investment Limited, before Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, continued on Wednesday, April 6, 2022, with both the prosecution and defense providing the court with a “report” on the plea bargain being worked out.

Mompha was charged on January 12, 2022, by the Economic and Financial Crimes Commission’s Lagos Zonal Command with conspiracy to launder funds obtained through illegal activity, retention of proceeds of criminal conduct, laundering of funds obtained through illegal activity, failure to disclose assets and property, possession of documents containing false pretense, and use of property derived from illegal activity.

One of the counts reads: “Ismaila Mustapha, Ahmadu Mohammed (at large), and Ismalob Global Investment Limited, sometime in 2016, in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to conduct financial transactions to the tune of N5,998,884,653.18 ( Five Billion Nine Hundred and Ninety-eight Million Eight Hundred and Eighty-four Thousand Six Hundred and Fifty-three Naira Eighteen Kobo) with the intent of promoting the carrying on of specified unlawful activities to wit: Obtaining by false pretense.”

He pleaded “not guilty” to the charges.

“Most important, my lord, is that the defendant wants to engage the prosecution on the charges,” he had said.

At today’s proceedings, the prosecuting counsel, S.I. Suleiman informed the Court that both parties were “in the process towards a plea bargain.”

In his response, Kolawole Salami, who held the brief of Oyewole, confirmed the position of the prosecution.

“The defendant wants his peace of mind and still maintains his no-guilty plea,” he added.

The case was, thereafter, adjourned till Thursday, June

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