The acting chairman of Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, claimed on Thursday that N33 billion in laundered funds had been linked to two suspected fraudsters.<\/p>\n\n\n\n
Mr Magu said Ismaila Mustapha, a self-acclaimed bureau de change operator, and his alleged Lebanese associate, Hamza Koudeih, laundered N14 billion and N19 billion between them, respectfully, in suspected loot from their victims on the Internet.<\/p>\n\n\n\n
At the time of his arrest, Mr Mustapha, widely known as Mompha, had \u201c51 bank accounts in Nigeria\u201d and used them to buy \u201cproperties in Dubai and had laundered about N14 billion through a firm known as Ismalob Global Investments Limited,\u201d Mr Magu said. \u201cHis accomplice, Koudeih, also has two firms namely: THK Services Limited and CHK properties Limited with which he has allegedly laundered about N19 billion.\u201d<\/p>\n\n\n\n
Mr Mustapha was arrested in Lagos on October 18 as he was about to board a flight to Dubai. Mr Koudeih was arrested last week Thursday in a raid of his apartment by anti-graft detectives. The Nation was the first to report the raid and also cited anti-corruption sources as linking both suspects to N33 billion graft.<\/p>\n\n\n\n
Mr Magu gave updates about the arrests at the Lagos field office of the EFCC on Thursday afternoon. A transcript was sent to PREMIUM TIMES by Wilson Uwujaren, the agency\u2019s spokesperson.<\/p>\n\n\n\n
Mr Mustapha had been a longtime Instagram celebrity, where he frequently displayed opulence within his young family. He had claimed ownership of upscale acquisitions, including posh houses and vehicles.<\/p>\n\n\n\n
Mr Magu hinted at the expensive lifestyle of the suspects on Thursday, saying Mr Koudeih was living in \u201ca $5 million per annum suite at the Eko Atlantic Pearl Tower,\u201d which overlooks the Nigerian Atlantic coast in Lagos.<\/p>\n\n\n\n
Mr Magu said operatives recovered electronic devices, documents and \u201cstrange\u201d items when they raided Mr Koudeih\u2019s apartment.<\/p>\n\n\n\n
The operation that led anti-graft detectives to Messrs Mustapha and Koudeih was part of the ongoing collaboration between the EFCC and foreign law enforcement institutions, including the United States F.B.I., Mr Magu said.<\/p>\n\n\n\n
The partnership had targeted high-valued syndicates victimising Internet users and targeting companies across the world. The business e-mail compromise aspect of the fraud alone had seen companies lose billions to the online crooks, whose trade usually seems genuine on the surface.<\/p>\n\n\n\n
Since August, hundreds of Nigerians have been arrested in a sweeping crackdown on suspected Internet fraudsters and money laundering gangs in the U.S. and Nigeria. Some of those arrested during that time have been convicted and sentenced to prison by Nigerian courts.<\/p>\n\n\n\n
\u201cFor us, there will be no hiding place for fraudsters as the commission will hunt and bring any errant and criminally-minded persons to justice,\u201d Mr Magu said.<\/p>\n\n\n\n
The acting chairman of Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, claimed on Thursday that N33 billion in laundered funds had been linked to two suspected fraudsters. Mr Magu…<\/p>\n","protected":false},"author":6,"featured_media":286,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[63,168],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2016\/12\/Ibrahim-Magu_0.jpg?fit=500%2C333&ssl=1","jetpack-related-posts":[{"id":142202,"url":"https:\/\/www.citypeopleonline.com\/breaking-buhari-appoints-bala-ciroma-acting-efcc-chairman\/","url_meta":{"origin":127440,"position":0},"title":"BREAKING Buhari Appoints Bala Ciroma Acting EFCC Chairman","author":"Damilare Salami","date":"July 8, 2020","format":false,"excerpt":"The FCT Commissioner of Police, Bala Ciroma has been appointed to replace the suspended Ibrahim Magu as the new Acting Chairman of the Economic and Financial Crimes Commission (EFCC) The FCT Commissioner of Police, Bala Ciroma has been appointed to replace the suspended Ibrahim Magu as the new Acting Chairman\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"Bala Ciroma","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2020\/07\/Bala-Ciroma-559x430-1.jpeg?fit=559%2C430&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2020\/07\/Bala-Ciroma-559x430-1.jpeg?fit=559%2C430&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2020\/07\/Bala-Ciroma-559x430-1.jpeg?fit=559%2C430&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":115270,"url":"https:\/\/www.citypeopleonline.com\/the-truth-is-that-ibrahim-magu-lied-and-this-is-not-the-first-reno-omokri-blasts-efcc-boss\/","url_meta":{"origin":127440,"position":1},"title":"“The truth is that Ibrahim Magu lied and this is not the first” – Reno Omokri Blasts EFCC Boss","author":"Damilare Salami","date":"March 27, 2019","format":false,"excerpt":"A former aide of ex-President Goodluck Jonathan, Reno Omokri, says the claim that N1.3 trillion was stolen between 2011 and 2015 was untrue. In a statement on Tuesday, Omokri said the claim by Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), is an attempt to divert\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"Reno-Omokri","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/01\/Reno-Omokri-640x853.jpg?fit=640%2C853&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/01\/Reno-Omokri-640x853.jpg?fit=640%2C853&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/01\/Reno-Omokri-640x853.jpg?fit=640%2C853&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":147780,"url":"https:\/\/www.citypeopleonline.com\/ccb-invites-magu-demands-documents-of-his-assets\/","url_meta":{"origin":127440,"position":2},"title":"CCB invites Magu, demands documents of his assets","author":"Reporter","date":"November 14, 2020","format":false,"excerpt":"The Code of Conduct Bureau (CCB) has asked Ibrahim Magu, suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), to appear before it on Tuesday. The CCB invitation comes at a time Magu is being investigated by a presidential panel over alleged misappropriation of recovered assets under his\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"Ibrahim Magu, EFCC,","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2016\/12\/Ibrahim-Magu_0.jpg?fit=500%2C333&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":127393,"url":"https:\/\/www.citypeopleonline.com\/efcc-plans-to-sell-diezanis-n14-4bn-jewellery-houses\/","url_meta":{"origin":127440,"position":3},"title":"EFCC plans to sell Diezani\u2019s N14.4bn jewellery, houses","author":"Reporter","date":"October 31, 2019","format":false,"excerpt":"Internationally certified auctioneers have been invited by the Economic and Financial Crimes (EFCC) ahead of the planned auction of $40 million (about N14.4 billion) jewellery, recovered from a former Petroleum Resources Minister, Mrs Diezani Alison-Madueke. Recall that in September 2019, a Federal High Court in Lagos granted EFCC's application for\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"Diezani Alison Madueke, EFCC","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/01\/Diezani-Alison-Madueke-690x450.jpg?fit=690%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/01\/Diezani-Alison-Madueke-690x450.jpg?fit=690%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/01\/Diezani-Alison-Madueke-690x450.jpg?fit=690%2C450&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":37968,"url":"https:\/\/www.citypeopleonline.com\/magu-reveals-amount-recovered-efcc-30-months\/","url_meta":{"origin":127440,"position":4},"title":"Magu Reveals Amount Recovered by EFCC in 30 Months","author":"Arinze Ago","date":"November 9, 2017","format":false,"excerpt":"Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, has given insight into the amount recovered by the agency in the last two years. He spoke at a meeting with Dr. Nassar Abaalkhail, Head of International Collaboration, National Anti-Corruption Commission, Saudi Arabia. The meeting was sequel to\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"Ibrahim Magu, EFCC,","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2016\/12\/Ibrahim-Magu_0.jpg?fit=500%2C333&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":143570,"url":"https:\/\/www.citypeopleonline.com\/fcmb-ceo-adam-nuru-in-the-eye-of-the-storm\/","url_meta":{"origin":127440,"position":5},"title":"FCMB CEO, Adam Nuru In The Eye Of The Storm","author":"Reporter","date":"August 11, 2020","format":false,"excerpt":"These are not the best of times for the\u00a0 managing director of First City Monument Bank (FCMB), Adam Nuru, as he may have got into\u00a0 troubled waters. The FCMB boss allegedly\u00a0 said the bank just discovered that N573 million was mistakenly posted into the church account of Pastor Emmanuel Omale.\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2020\/08\/Adam-Nuhu-Managing-Director-of-FCMB-e1542363075252.jpg?fit=700%2C368&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2020\/08\/Adam-Nuhu-Managing-Director-of-FCMB-e1542363075252.jpg?fit=700%2C368&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2020\/08\/Adam-Nuhu-Managing-Director-of-FCMB-e1542363075252.jpg?fit=700%2C368&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2020\/08\/Adam-Nuhu-Managing-Director-of-FCMB-e1542363075252.jpg?fit=700%2C368&ssl=1&resize=700%2C400 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/posts\/127440"}],"collection":[{"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/comments?post=127440"}],"version-history":[{"count":1,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/posts\/127440\/revisions"}],"predecessor-version":[{"id":127442,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/posts\/127440\/revisions\/127442"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/media\/286"}],"wp:attachment":[{"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/media?parent=127440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/categories?post=127440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/tags?post=127440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}