Instagram big boy and self-acclaimed Chief Executive Officer [CEO] of Mompha Bureau de Change, Ismaila Mustapha, popularly known as Mompha, has admitted to being involved in fraud, the Economic and Financial Crimes Commission [EFCC] said on Tuesday.
WuzupNigeria reports that the Dubai-based Nigeria was reportedly arrested in Abuja by the EFCC three days at the prompting of Interpol.
According to the anti-graft agency, Mompha, who is known for flaunting wealth and fleet of cars on Instagram 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.
According to EFCC operatives,
“actionable cross border intelligence received from collaborative law enforcement agencies about his alleged involvement in the criminal activities further strengthened our suspicion”.
Mompha is expected to be charged with internet-related fraud and money laundering.
Mompha was alleged to have perpetrated his fraudulent activities under the guise of being a Bureau de Change [BDC]operator.
“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,” the EFCC said.
“However, the suspect has volunteered useful information to the operatives and has admitted to be reasonably involved in the first two cases he was alleged to be involved.
“At the point of arrest, five wristwatches with a total worth of over Twenty Million Naira (N20, 000, 000: 00) was recovered from him. The suspect will soon be charged to court as soon as investigation is concluded.”