Nigeria’s anti-fraud office has said Instagram celebrity, Ismaila Mustapha a.k.a Mompha; and his Lebanese accomplice, Hamza Koudeih has allegedly laundered about N33 billion.
The Economic and Financial Crimes Commission Chief Ibrahim Magu said the arrest of the duo is the “biggest catch of the commission.”
Magu, at an interactive session with newsmen, said Mompha operates “51 bank accounts in Nigeria with which he acquired properties in Dubai and had laundered about N14bn through Ismalob Global Investments Limited.”
“Five wristwatches valued at over N60m were recovered from Mompha at the point of arrest,” Magu added.
While Koudeih, living in a N5m per annum suite in Lagos, has two firms, THK Services Limited and CHK properties Limited, with “which he has allegedly laundered about N19bn.”
Mompha and Koudeih were arrested in Abuja and Lagos through credible intelligence which flagged the suspects as kingpins of Organized Cyber Syndicate Network, OCSN, the anti-graft office claimed.
Mompha 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, EFCC claimed.
According to the EFCC operatives, “actionable cross border intelligence received from collaborative law enforcement agencies about his alleged involvement in the criminal activities further strengthened our suspicion”.
“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.”
In total, EFCC said it recorded no fewer than 200 arrests of Internet fraud suspects, popularly known as ‘Yahoo Boys,’ in October.
