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Court Grants Mompha N200 Million Bail


Suspected internet fraudster, Ismailia Mustapha aka Mompha has been granted a N200M bail with two sureties in the like sum by the Ikeja Special Offences Court in Lagos State.

The bail was granted by the presiding judge, Justice Mojisola Dada after Mompha’s lawyer, Gbogega Oyewole filed an application for bail.

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The judge ordered that one of two sureties must own property valued at N100million within the jurisdiction.

Meanwhile, Mompha is to remain in a Correctional Centre of his choice in Lagos pending perfection of his bail conditions.

Also, his international passport is to remain in custody of the court’s registrar.

Last week Monday, the Economic and Financial Crimes Commission (EFCC) arraigned Mompha and his firm, Ismalob Global Investment Limited, in the court on eight counts bordering on the alleged offences of money laundering to the tune of N6billion.

This was after he was re-arrested for laundering the funds allegedly obtained through unlawful activities and retention of alleged proceeds of crime.

Also, Mompha and his company, Ismalob Global Investment Limited, are standing trial on an amended 22-count charge bordering on cyber fraud and money laundering to the tune of N32.9bn brought against him by the EFCC.