In News by Oluwaseun Samuel on the 14th, October, 2020

Courtroom Presides On Mompha’s No-case Submission Nov 18

Court Presides On Mompha’s No-case Submission Nov 18

Mompha

Mompha

The no-case submission filed by suspected fraudster, Ismaila Mustapha popularly referred to as Mompha has been fastened on Wednesday, November 18, 2020, by a  Federal Excessive Courtroom in Lagos.

Justice Mohammed Liman fastened the date on Wednesday, after Mompha’s lawyer, Mr Gboyega Oyewole (SAN), moved the no-case submission, urging the courtroom to dismiss the fees towards his shopper.

Oyewole argued that regardless of calling 10 witnesses and tendering a load of paperwork, the Financial and Monetary Crimes Fee failed to ascertain a prima facie case towards Mompha and his co-defendant, Ismalob International Funding Restricted.

Oyewole urged Justice Liman to dismiss the 22 counts towards the defendants and set them free.

However the prosecution counsel for the EFCC, S.I. Suleiman, opposed the prayer, insisting that the anti-graft company had substantiated its allegations towards them.

After taking arguments from the attorneys, Justice Liman adjourned until November 18, 2020, for a ruling.

Within the amended 22 counts earlier than the courtroom, the EFCC alleged that between 2015 and 2018, Mompha procured Ismalob International Funding Restricted to retain an combination of N32.95bn in its checking account.

The EFCC stated he must have moderately identified that the funds fashioned elements of proceeds of an illegal act; to wit: fraud.

Within the counts towards Ismalob International Funding Restricted, the EFCC stated as a chosen non-financial establishment, the agency did not report back to the EFCC inside seven days enormous single lodgments and transfers akin to N104.8m, N135m, N20m, N150m, N22.3m, N100m and N42m.

Moreover, the EFCC alleged that not being an authorised purchaser of overseas alternate forex appointed by the Central Financial institution of Nigeria, Mompha negotiated a number of overseas alternate transactions with completely different people within the sums of N20m, N22.3m, N30m, N100m, and N40.7m.

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He was additionally accused of creating money funds of €299,000, €213,675, €273,000 to 1 Ahmed Sarki, stated to be deceased.

These offences have been stated to be opposite to Part 18(c), 15(2)(d), 15(three), and Part 10 of the Cash Laundering (Prohibition) Act.

The EFCC stated Mompha and Ismalob International Funding Restricted additionally violated sections 5 and 29(1)(c) of the Overseas Trade Monitoring and Miscellaneous (Provisions) Act Cap F34 LFN 2004.

However the defendants pleaded not responsible to the fees.

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