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Mompha Net Worth And The Story Of Corruption

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People go online to read Mompha net worth with even more interest than they would, a text on financial morality. They are concern with the claim that Mompha net worth is $24 million and nothing else.

People like success stories or how else can it be explained? That desire to read about Davido net worth immediately after reading similar facts about Burna Boy.

It is human nature to want the best in life. But often times we set out eyes on the wrong reasons.

And this is why the youths in this country are becoming worse. With different vices now the means towards a life of wealth.

Or so they think.

The story of Mompha is simply another story anchored on the phrase “not all that glitter is gold”.Mompha Net Worth

For many of us the Mompha has always been a suspicious character simply because his business was more about flaunting well than any other thing on social media.

We are talking about material wealth ranging into billions of dollars. Especially when it came to the amount of exotic cars he had tied to his name.

The show of wealth made him a social media celebrity and in no time people became curious about Mompha net worth.

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He had become a known man and every gullible Nigerian youth were now making the phase “Mompha net worth” the search enquiry online for their search for financial motivation.

People revered him because he was a man who had shown the world that he was a wealthy billionaire.

And the many gullible people out there became fans and followers not because of any apparent value he was adding to their lives.

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They admired him simply because he had become rich, the very thing they are desperate to become.

Nobody was bothered about his source of wealth. Many just believed that it was all genuine because if not, there was no way he would be so confident in flaunting that amount of wealth online.

He had become one of the richest male out of Nigeria and according to him, his business is a successful bureau de change.

Not until he was arrested as a suspected Internet fraudster running an illegal bureau de change with his company Ismalob Global Investments Limited.

The EFCC claimed Mompha, who is the first defendant in the matter used the company to launder funds, part of which he used to acquire properties in Dubai, United Arab Emirates.

That was when people started waking up to the fact that maybe they have been hooked up to the luxurious lifestyle of an undercover fraudster.

EFCC is prosecuted Mompha alongside his company on a 14-count charge bordering on cyberfraud and money laundering to the tune of N33bn.

Obviously he was a crime boss and nobody outside his partners knew it.

The EFCC had also arrested Mompha’s accomplice, Hamza Koudeih, who was nabbed from the ceiling of his N1.8 billion luxury apartment in the 33-storey Eko Atlantic Pearl Tower, Victoria Island area of Lagos.

Just imagine the financial strength of a man that can pay 1.8 billion for just an apartment in Lagos.

We are talking about illegal billionaires whose wealth ate uncounted for.

There are many billionaire fraudsters in Nigeria and with the arrest made by the EFCC, it is obvious that Mompha is on that exclusive list.

He was however granted a N100 million bail on on Friday, November 29, 2019, admitted to bail with one surety who must be a landed property owner.

Both Mompha and his accomplice Hamza were alleged to have negotiated foreign exchange transactions in various sums such as N9.4 million, N20 million, N10.4 million, N2.4million, N100 million, N61 million, N40.7 million and N42 million, among others.

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Mr Mustapha was alleged to have aided the Ismalob to retain in its account, an aggregate sum of N14 billion procured from Pitacalize Ltd.

With the kind of money he was into and at that level of cyber crime. Mompha became the online expression of the most expensive things in life.

From cars to expensive watches, you name it. He became an overnight social media celebrity for the simple reason that he was rich.

But now we know for sure that the source of all those wealth is questionable and every Naija News blogs out there have done their part by informing the public through articles about his arrest and court trial.

Mompha net worth runs into Billion’s of probably more illegal funds than legit ones.

He is rich and I believe the dude is not planning on going anywhere soon.

The Economic and Financial Crimes Commission Chief Ibrahim Magu said the arrest of the duo is the “biggest catch of the commission.”

Magu, at an interactive session with newsmen, said Mompha operates “51 bank accounts in Nigeria with which he acquired properties in Dubai and had laundered about N14bn through Ismalob Global Investments Limited.”

“Five wristwatches valued at over N60m were recovered from Mompha at the point of arrest,” Magu added.

While Koudeih, living in a N5m per annum suite in Lagos, has two firms, THK Services Limited and CHK properties Limited, with “which he has allegedly laundered about N19bn.”

Mompha and Koudeih were arrested in Abuja and Lagos through credible intelligence which flagged the suspects as kingpins of Organized Cyber Syndicate Network, OCSN, the anti-graft office claimed.

According to the EFCC operatives, “actionable cross border intelligence received from collaborative law enforcement agencies about his alleged involvement in the criminal activities further strengthened our suspicion”.

“Investigations have also revealed that Ismaila is only using the BDC business, he jointly owned with his siblings, as a decoy to launder his proceeds of crime.”

Yes he is rich but Mompha net worth is nothing to be proud of. Corruption of any sort should not be encouraged.

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