The founder of financial technology company Tingo Group was charged with securities fraud in New York, accused of orchestrating a massive scheme to inflate the company’s finances.
Former Tingo Group Interim Co-CEO Mmobuosi Indicted on Securities Fraud Charges
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US charges ex-fintech CEO with fraud
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US charges ex-fintech CEO with fraud By Reuters
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NEW YORK (Reuters) -U.S. prosecutors in Manhattan unveiled criminal charges against a Nigerian fintech businessman who recently bid unsuccessfully for an English Premier League soccer team, saying he lied to investors about his companies' finances. Odogwu Banye Mmobuosi, 45, the former co-chief executive officer of Tingo Group, was charged with securities fraud, making false U.S. Securities and Exchange Commission filings, and conspiracy in an indictment made public on Tuesday. Prosecutors said the defendant, known as Dozy Mmobuosi, falsely represented that his Tingo Mobile cellular business and Tingo Foods agriculture business were profitable, generating hundreds of millions of dollars of revenue.