Thursday, November 14, 2019

Mompha operates 51 bank accounts, launders N33bn with foreign partner

Juliana Francis
The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, yesterday revealed that an alleged internet fraudster, Ismaila Mustapha, also known as Mompha operates 51 bank accounts in Nigeria with which he acquires properties in Dubai and laundered about N33billion along with his Lebanese accomplice, Hamza Koudeih.

Speaking during an interactive session with stakeholders at the Lagos Zonal office of the Commission, Magu said the arrest of Mompha and his Lebanese accomplice, Hamza Koudeih was a landmark achievement in the anti-graft agency sustained fight against internet-related frauds and money laundering in the country.
Mompha was arrested on October 18, over alleged involvement in Internet fraud and money laundering.
He was arrested at the Nnamdi Azikiwe International Airport, Abuja, on his way to Dubai, United Arab Emirate. The EFCC explained that it arrested Mompha after series of intelligence reports.
These reports allegedly link him to organised transnational cyber-fraud and money laundering.
Operatives allegedly recovered five wristwatches with a total value of over N60million from him. The suspect allegedly perpetrated his crimes under the guise of being a Bureau de Change operator, to launder his proceeds of crime
Magu said the arrest of Mompha and Hamza bore testimony to the commitment of the Commission to the fight against internet-related frauds, stressing that, “it is also a red alert to potential fraudsters.”
Magu added: “Actionable intelligence received from local and international law enforcement agencies has revealed that the suspects, alongside their collaborators, were high-valued targets in Organized Cyber Syndicate Network, OCSN.”
He further noted: “I make bold to tell you that these arrests have further confirmed our commitment to the anti-graft war, while also sending a red alert to potential internet fraudsters. I am sure you will be greatly shocked to know that five wristwatches valued at over N60million were recovered from the suspected internet fraudster, Mompha, at the point of arrest. Investigation has also revealed that he operates 51 bank accounts in Nigeria with which he acquires properties in Dubai and had laundered about N14billion through a firm known as Ismalob Global Investments Limited. His accomplice, Koudeih, also has two firms namely: THK Services Limited and CHK properties Limited with which he has allegedly laundered about N19billion. Koudeih lives in a $5million per annum suite at the Eko Atlantic Pearl Tower, Victoria Island Lagos.”
 The EFCC Chair also stated that the Commission had begun forensic analysis of the phones, documents and “strange” items recovered from both suspects.
 “They will be charged to court accordingly as soon as investigation is concluded,” stated Magu.
 Magu also emphasized the fact that the Commission, prior to the arrests of Mompha and Koudeih, had independently launched investigative actions against the Internet fraudsters, popularly known as Yahoo Yahoo Boys, culminating in various strategic raids on their hideouts.
He further stated that the Commission had embarked on the raids even before the recently concluded collaborative operation with the Federal Bureau of Investigation (FBI), tagged ‘Operation Rewired,’ an international operation targeted at the Business Email Compromise (BEC), suspects across the world.

Magu noted: “From January to date, the Lagos office of EFCC has made over 300 arrests, secured 207 convictions and recovered a good number of exotic cars. In addition, several properties suspected to have been acquired through the proceeds of crime were sealed.”
He charged the media to join hands with the Commission in sensitizing the members of the public about the evil of internet frauds as well as economic and financial crimes. 
Magu, who described media professionals as critical stakeholders in the anti-graft war, stressed: “We must collectively strive to achieve the Nigeria of our dream, one that our children and even generations unborn will be proud of. It is very critical for you to understand that you owe the youths that social responsibility of awakening their consciousness to the importance of a noble life devoid of crimes. We must continue to mentor our youths and impress it on them to shun crimes and its alluring temptation because it will always end in sorrow and regrets. For us, there will be no hiding place for fraudsters as the Commission will hunt and bring any errant and criminally-minded persons to justice.”
Magu also used the occasion to disclose that the Commission might soon put in place a policy of rehabilitating convicted internet fraudsters so that they could deploy “their computer wizardry to good use for the overall well-being of the society.”
He further disclosed to the stakeholders that the EFCC would commence the auctioning of recovered items soon, adding that the commission wants to ensure there is transparency in the process of auctioning the items.
“We have already commenced the process in Port Harcourt, where we will be auctioning 242 trucks that have been forfeited. We have so many recovered items that have been forfeited to the Federal Government that are waiting to be auctioned. The process should be properly coordinated in compliance with judgment given by the court and that is why we have taken so much time,” said Magu.
Magu urged the stakeholders to join the EFCC in the fight against corruption by using their platform to expose the criminals and not promote them.

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