Magu: Mompha, Lebanese Associate Laundered N33 Billion From Internet Fraud

The acting chairman of the Economic and Financial Commission (EFCC), Ibrahim Magu, has said suspected fraudster, Ismaila Mustapha popularly called Mompha, and his Lebanese accomplice, Hamza Koudeih, allegedly laundered N33 billion proceeds of internet fraud.

Magu, who made the disclosure at the Lagos office of the EFCC on Thursday, said Mompha and Koudeih respectively laundered N14 billion and N19 billion in internet scam proceeds.

The EFCC boss said investigation by the anti-graft agency showed that Mompha used “51 bank accounts in Nigeria” to buy “properties in Dubai and had laundered about N14 billion 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 N19 billion.”

Mompha, who was arrested on October 18 at the Lagos International airport while en route to Dubai, is known for flaunting his wealth on Instagram.

The EFCC boss said Mompha’s Lebanese associate was living in “a $5 million per annum suite at the Eko Atlantic Pearl Tower,” overlooking the Nigerian Atlantic coast in Lagos.

During the raid on Koudeih’s suite, the EFCC recovered electronic gadgets, documents and “strange” items.

Magu said the anti-graft agency will not rest on its oars until it hunts and “bring any errant and criminally-minded persons to justice.”