The Economic and Financial Crimes Commission (EFCC) has arraigned Ismaila Mustapha, the socialite also called Mompha, and Ismalob Global Investment Limited, his firm, for alleged fraud.
They were both arraigned on Wednesday before Mojisola Dada of the special offenses court sitting in Ikeja, Lagos.
The arraignment is for eight fresh charges bordering on alleged money laundering to the tune of over N6 billion.
In the counts, the defendants were accused of conspiracy to launder funds obtained through unlawful activity, retention of such funds, and transfer of funds for a suspect named Olayinka Jimoh (better known as Nappy Boy).
The charges, it is understood, also include the unlawful transfer of funds for a record label among others.
The EFCC alleged that Mompha hid his interest via expensive wristwatches and movable assets valued at over N70 million.
Mompha pleaded not guilty to the charges on behalf of his company while the judge ordered that the socialite be remanded in the custody of the EFCC till January 18 when his bail application will be heard.
This will be the second case in which the EFCC is charging Mompha.
Mompha is already facing an amended 22-count bordering on cyberfraud and laundering to the tune of N32.9 billion at the federal high court in Lagos.
The Dubai-based celebrity was re-arrested by operatives of the EFCC on January 10.
He was first arrested on October 19, 2019, at the Nnamdi Azikiwe International Airport in Abuja.
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