{"id":72309,"date":"2020-03-18T21:14:03","date_gmt":"2020-03-18T20:14:03","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=72309"},"modified":"2020-03-18T21:14:03","modified_gmt":"2020-03-18T20:14:03","slug":"how-mompha-operates-unlicensed-bdc-witness-told-court","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/other-news\/how-mompha-operates-unlicensed-bdc-witness-told-court\/","title":{"rendered":"How Mompha Operates Unlicensed BDC, Witness Told Court"},"content":{"rendered":"
\n
The trial of Ismaila Mustapha aka Mompha continued today, March 18, 2020<\/div>\n
\n
before Justice A. Mohammed Liman of a Federal High Court sitting in
\nIkoyi, Lagos, as a prosecution witness told the court that Mompha did
\nnot remit tax to the Federal Government for a period of seven months
\nwhile his company was already in existence.Mompha is standing trial alongside his company, Ismalob Global
\nInvestments Limited on an amended 22-count charge bordering on cyber
\nfraud and money laundering to the tune of N33 billion (Thirty-three
\nBillion Naira) brought against him by the EFCC.<\/p>\n

The defendant who is fingered as a major figure in an organised
\ntransnational cyber fraud network, allegedly used his company, Ismalob
\nInvestment Limited to launder the funds, part of which he used in
\nacquiring properties in Dubai.<\/p>\n

At the resumed sitting today, the prosecution called four witnesses,
\nthree of which are Bureau De Change Operators, BDC and an investigator
\nwith the EFCC.<\/p>\n

Led in evidence by Rotimi Oyedepo, prosecution counsel, Kaina Garba, an
\ninvestigator with the EFCC narrated to the court how Mompha ran an
\nunlicensed BDC, and lied about the date operations commenced in his
\ncompany leading to his evasion of tax for a period of seven months.<\/p>\n

Kaina narrated to the court that sometime in 2019, the EFCC received
\nintelligence on Mompha’s activities, alleged to be a member of an
\norganised cyber crime syndicate. The intelligence was analysed and found
\nto be credible.<\/p>\n

“Investigation commenced and the defendant was arrested at the Nnamdi
\nAzikiwe International Airport, Abuja on his way from Dubai, where he
\nstays.<\/p>\n

“A bank verification was ran on his Fidelity Bank account and it was
\nrevealed that he is associated with some accounts one of which is
\nIsmalob Global Ventures Limited.<\/p>\n

“Letter of enquiry was sent to the Corporate Affairs Commission, CAC and
\nit revealed that he is a Director at the company and the sole signatory
\nto the account.<\/p>\n

“Letter of enquiry was sent to the Special Control Unit against Money
\nLaundering, SCUML, and the Central Bank of Nigeria, CBN, to ascertain if
\nthe company was registered and licensed to carry out BDC activities and
\nthe responses showed that Ismalob was not a licensed BDC neither was it
\nregistered with SCUML”, he said.<\/p>\n

Kaina also revealed to the court that a letter was written to the
\nFederal Inland Revenue Service, FIRS and the response showed that there
\nwas a suppression of seven months on the date when transactions
\ncommenced at Ismalob and for those months, there were no payment of
\ntaxes by the company.<\/p>\n

He further said that the analysis of the Statement of Account on the
\nFidelity Bank account of Ismalob, revealed a total turnover of over
\nEighteen Billion Naira between December 2015 and September 2019.<\/p>\n

Other witnesses, Ojei Osemeke, Onwuzulike Ikechukwu Kingsley and Ogbu
\nChibueze Bernard, all BDC operators, narrated to the court how the
\nMompha, through one of his directors, Ahmadu Mohammed would pay monies
\ninto their accounts at different times totalling over Three Billion
\nNaira (N3bn) and send representatives to receive the Euros equivalent in
\ncash.
\nJustice Liman adjourned further hearing in the matter to tomorrow, March
\n19, 2020.<\/p>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The trial of Ismaila Mustapha aka Mompha continued today, March 18, 2020 before Justice A. Mohammed Liman of a Federal High Court sitting in Ikoyi, Lagos, as a prosecution witness…<\/p>\n","protected":false},"author":1,"featured_media":72312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-72309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other-news"],"yoast_head":"\nHow Mompha Operates Unlicensed BDC, Witness Told Court - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/other-news\/how-mompha-operates-unlicensed-bdc-witness-told-court\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Mompha Operates Unlicensed BDC, Witness Told Court - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The trial of Ismaila Mustapha aka Mompha continued today, March 18, 2020 before Justice A. 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