The EFCC on Monday, November 25, 2019 arraigned Ismaila Mustapha popularly known as Mompha, alongside his company, Ismalob Global Investments Limited. He was arraigned before Justice Muhammad Liman of the Federal High Court, Ikoyi, Lagos on a 14-count charge bordering on cyber fraud and money laundering to the tune of N33 billion (Thirty-three Billion Naira).
The defendant was alleged to have been involved in an organised transnational cyber fraud and money laundering under the guise of being a Bereau de Change operator. It was further alleged that the defendant used his company, Ismalob Investment Limited to launder the above mentioned amount which he allegedly used in acquiring properties in Dubai.