At the trial of Dubai based Nigerian businessman, Ismaila Mustapha a.k.a Mompha, Wednesday, EFCC alleged that he hid N32.9billion transactions from the Special Control Unit Against Money Laundering (SCUML) for 25 months.
The fourth prosecution witness, (PW4), Enu Matthew Obun, 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.
It was alleged that Mompha procured Ismalob Global Investment Ltd. and retained in its account, an aggregate sum of N32.9 billion between 2015 and 2018 between December 14, 2015 and January 25, 2018.
An official of the Special Control Unit Against Money Laundering (SCUML), Mr. Matthew Enu-Obun told Justice Mohammad Liman that they had no record of the transaction as it was hidden and not reported.
EFCC stated that Mompha who is not a financial institution or an authorised foreign exchange dealer, negotiated foreign exchange transaction in the sums of N9.416million, N20million, N10,437,400.00, N10miillion, N2.46million, N10miillion, N100million, N61million, N100million, N40.7million and N42million.
He also allegedly laundered money made from the transaction in tranches of N18,059,353,413 billion and N14,946,773,393.00 billion, an offence which contravened sections 15(2) and 18(3) of the Money Laundering (Prohibition) Act, 2011 as amended.
Justice Liman adjourned the matter until February 26, 2020 for continuation of trial.