The US Securities and Exchange Commission (SEC) has filed charges of 'massive' fraud against Nigerian businessman Dozy Mmobuosi, the CEO of Tingo Group, a fintech and agriculture company. The charges allege inflated financial metrics of US entities, reporting a cash balance of $461.7m in Nigerian bank accounts with less than $50, and diversion of funds for luxury cars and private jets. Tingo Group has announced that Mmobuosi has temporarily stepped down as interim co-CEO in response to the SEC charges. The company has expressed intent to investigate the allegations.
snippets on fraud by Tingo from theFT https://t.co/XhHAJmzPvm
"Astonishing Audit Failure": SEC Charges Tingo Group With "Massive Fraud" https://t.co/qzBzT2EK0H
Tingo Group CEO temporarily steps down after US SEC charges https://t.co/gnkXEeUnjH https://t.co/LNhF7C5ZuT
⚠️ TINGO GROUP CEO TEMPORARILY STEPS DOWN AFTER US SEC CHARGES Tingo Group said on Wednesday that Nigerian businessman Dozy Mmobuosi has temporarily stepped down as interim co-CEO of the fintech firm after the U.S. Securities and Exchange Commission (SEC) filed charges alleging…
"We will work to determine why the SEC has its facts so wrong." Tingo forges on! $TIO https://t.co/UolVvFn0PJ https://t.co/oaV1yqfjGe
U.S. SEC charges Nigerian businessman behind Tingo with "massive fraud" - Inflated financial metrics of U.S. entities - reported cash balance of $461.7m in Nigerian bank accounts with less than $50. - diverted money for luxury cars and private jets. https://t.co/bcGAdtnD0b https://t.co/HRWm3tEfGQ
The Nigerian founder of Tingo Group, which claims to operate agriculture and fintech businesses in three continents, has been charged with "massive fraud" by the U.S. SEC. https://t.co/2bxo2hVQVu @onu_kwue reports the details for @SemaforAfrica
U.S. regulators have charged the Nigerian businessman behind fintech/agric group Tingo with fraud via @SemaforAfrica https://t.co/bcGAdtoaPJ
SEC charges Nigerian businessman behind Tingo group with fraud https://t.co/tUUjhC5bhq
The US SEC sues NJ-based Tingo Group, which sells credit and phones to Nigerian farmers, for allegedly booking billions in false transactions with subsidiaries (Bloomberg) https://t.co/QlNBDarzr7 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/3QNZWE5clR
US SEC charges Tingo Group Nigerian CEO, three companies with fraud https://t.co/vNSPbb9AjQ https://t.co/zJLi8OwPGV
⚠️ US SEC CHARGES TINGO GROUP NIGERIAN CEO, THREE COMPANIES WITH FRAUD Full Story → https://t.co/p0l5JRbJhT
SEC charges fintech Tingo chief with ‘massive’ fraud after Hindenburg short position https://t.co/7eAMYiVlq7