Popular Instagram celebrity, Ismaila Mustapha, better known as Mompha has been remanded in the custody of the Economic and Financial Crimes Commission (EFCC).
His company, Ismalob Global Investment Limited and himself were earlier arraigned before Justice Mojisola Dada of an Ikeja Special Offences Court over an alleged N6 billion fraud.
The two defendants were accused of laundering funds obtained through unlawful activities and retaining alleged proceeds of crime for a suspect, Olayinka Jimoh also known as Nappy Boy.
They are, in addition, accused of an unlawful transfer of funds for a record label among other crimes.
According to the anti-graft agency, the defendants laundered the sums of N5 million, N32 million, N120 million and N15 million for the suspect.
The EFCC also alleged that Mompha concealed his crimes in expensive wristwatches and other movable assets valued at over N70 million.
The social media celebrity has pleaded not guilty to the 8-count charge when they were read to him in court while Islamob Limited (represented by Mompha) also pleaded not guilty to the first 6 counts.
Following his plea, the prosecuting counsel, Rotimi Oyedepo, prayed the court for a trial date and for the remand of the defendant.
Defence counsel, Gboyega Oyewole (SAN), on his part, informed the court that the defence had filed the defendant’s bail application.
The case has been adjourned till the 18th of January by Justice Mojisola Dada. The bail application will also be heard on the same date while the defendant is remanded in the custody of the EFCC.
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