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EFCC Re-arrests ‘Instagram Billionaire’ Mompha for Alleged Money Laundering

They face an amended 22-count charge bordering on cyber fraud and money laundering to the tune of N32.9 billion.

The Economic and Financial Crimes Commission (EFCC) has re-arrested a suspected internet fraudster, Ismailia Mustapha widely known as Mompha.

The ‘Instagram billionaire’ was arrested for laundering funds obtained through unlawful activities and retention of alleged proceeds of crime.

This was made known in a statement that was issued by the EFCC commission.

The socialite is currently standing trial alongside his company, Ismalob Global Investment Limited.

They face an amended 22-count charge bordering on cyber fraud and money laundering to the tune of N32.9 billion.

Mompha was first arrested on October 18, 2019 at the Nnamdi Azikiwe International Airport while boarding an Emirates flight to Dubai.

The alleged billionaire was then taken into custody by the Nigeria Immigration Service (NIS) following a watchlist by the EFCC.

It was alleged that he used his companies to receive illicit funds on behalf of internet fraudsters from across the world in return for commission/percentage.

“Investigation has revealed a fraudulent transfer slip of $92, 412, 75 found in the suspect’s iPhone 8 device. He will soon be charged to court.” the commission added.

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