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Goodnewsforlife:
Cyrus I
Helinues
Christiantruth02
Madridguy

Don't stress yourself on Igbos trying to defend that amaka woman, she has used her mouth to destroy her own life

Latest update is that she's claiming mental health issue meaning she will b placed on urgent medical attention with surveillance wherever she goes

She will first b relieved of her job cos she's a potential threat to others n she can't even take up any serious job again cos mental illness will b added to her profile

Just leave kobojunkie n all those Igbos who don't know anything

I ought to post this in politics section but that Igbo mod has ban me

She will then claim disability and get paid by the govt for the rest of her life.

funshint:
And the guy na strong obidient .
If Nigeria was a working country someone like B-lord shouldn't be walking the streets ordinarily.

Scammers and swindlers have a way of attracting each other.

Armaggedon:
common in business circle. The SEC wants to cash out.

Yeah right.

Claiming over $400mil in cash deposits while only having $50 in the bank.

Why must you guys always defend criminality when it involves your own ?

Why?

This ruling by a Federal District Judge now paves way for criminal investigation and prosecution by the FBI.

Tingo Mobile Found Liable For "Brazen" Fraud By Federal Judge After Ignoring SEC Lawsuit

THURSDAY, AUG 29, 2024 - 04:40 PM

Nigerian "agri-fintech" company Tingo Mobile - targeted by short seller Hindenburg Research barely a year ago, in June 2023 - has been found liable by a federal judge after failing to even respond to the SEC's lawsuit against them, accusing them of demonstrable financial fraud.

US District Judge Jesse Furman called the fraud "brazen" in court on Wednesday, ruling in favor of the regulators, who followed claims by Hindenburg Research that Tingo was booking "billions" in fraudulent transactions.

“The magnitude of the fraud is quite something,” the judge said, according to a Bloomberg writeup.

Back in December we noted that the SEC charged Tingo with "massive fraud", claiming that almost every aspect of the company - including its partners and its financials - was fabricated.

The SEC announced that it obtained a temporary asset freeze, restraining order, and other emergency relief against the company's founder Dozy Mmobuosi for running an "alleged multi-year scheme to inflate the financial performance metrics of his companies and key operating subsidiaries to defraud investors worldwide".

"Mmobuosi spearheaded a scheme to fabricate financial statements and other documents of the three entities, Tingo Group Inc., Agri-Fintech Holdings Inc., and Tingo International Holdings Inc. and their Nigerian operating subsidiaries," the SEC wrote in a release.

Among the more egregious examples of fraud the SEC alleged was the company claiming to have $461.7 million in cash when it had only $50 in its bank accounts:

Tingo Group’s fiscal year 2022 Form 10-K filed in March 2023 reported a cash and cash equivalent balance of $461.7 million in its subsidiary Tingo Mobile’s Nigerian bank accounts. In reality, those same bank accounts allegedly had a combined balance of less than $50 as of the end of fiscal year 2022.

"Defendants also fabricated the customer relationships that formed the basis of their purported businesses," the SEC alleged. "Mmobuosi and the entities he controls have fraudulently obtained hundreds of millions in money or property through these schemes."

Antonia M. Apps, Regional Director of the SEC’s New York Regional Office, commented in December: “As alleged, Mmobuosi spearheaded a brazen scheme using phony records and fictitious entities to make the Tingo companies he controlled appear highly profitable, so that he could hoodwink investors and reap massive benefits at their expense. We filed this emergency action to expose Mmobuosi’s fraud and hold him accountable, while protecting investors from further harm.”

Hindenburg's Nathan Anderson noted that Deloitte Israel gave Tingo a clean audit opinion for 2022 and was seeking to work with the company for 2023. He called it an "astonishing audit failure" for a Big 4 firm.


"We think Tingo is a worthless and brazen fraud that should serve as a humiliating embarrassment for all involved," Hindenburg wrote at the end of their June report. Tingo responded shortly thereafter that the Hindenburg report was full of "misleading and libellous content".

favor914:
You can tell that the BiafraAburi is highly frustrated.

No he isn't.

He is just your typical IPOB terrorist consumed by hate.

Gidgiddy and co will be the first to absolve IPOB from any killings in the SE and will quickly stupidly blame it on security agents like the DSS , NA and co.


Here we have one loud mouth brazenly issuing terrorist threats to security agents deployed to the SE. You won't see the likes of gidgiddy here to condemn this brazen terrorist threats by the raving lunatic on this thread.

BiafraAburi:

When you finish crying blood, make sure to follow your fellow terrorists in police and army uniform to Biafraland for your terrorism activities. I promise you 72 ashawo virgins.

You are making a lot of bold terrorist threats against the security agents of this nation.

Kobojunkieee:
It seems his resignation was not for personal reasons after all! 🙄

You will be surprised how dumb you are.

This is foolishness.

How can you be a king in another man's land.

If you are not indigenous to the land , you have no right parading yourself as a king of other diaspora people.

Everybody should respect their boundaries .

aswani:


You too get mout.

You go dey ok las las sha.

Make he dey run mouth .

Kobojunkieee:
LOok who's talking! 🙄🙄

Oya , continue feeding the lunatic IPOB tier conspiracy that their own madness committed by their own hands is a grand conspiracy by the Govt.

Kobojunkieee:
Sorry but you reason worse than a poop worm abeg! tufiakwa!

I am convinced you people are paid to destroy the Eastern region either by APC or some other force that simply wants to keep the Eastern tribes in zombie mode! I can't for the life of me believe this is the level of intelligence that keeps many pining for a Biafra. It just does not make any sense of any kind!

You are more foolish than that raving lunatic all over this thread if you think anyone has a hand in this their latest madness.

Ovacoma:

The Jews are behind all the kidnappings, ritual killings, terrorism, herdsmen farmers conflicts, inflation, food scarcity, naira depreciation, clueless leadership, corruption, looting, bad governance, etc etc in Nigeria as well.

Yes.

To a very large extent.

It started with the "Give away" crew.

They opened this forum to every opportunistic shameless beggar .

I even hold the scammers in high respect compared to those shameless beggars. At least those ones putting in work.

Fiscus105:



Go back to press issue, you are talking and stop digressing to win a point.

Meanwhile, you should also know that, where your knowledge ends in current affairs is where another person starts.


Back to the original argument, to receive by press immediately after resignation, has nothing to do with, either is planned or not planned, it's routine tin to do with easy if govt really want the person involved to talk to press in real time.

Rest.

NairaMaster1:


Do you expect any Fulani to do well in security? Who are the one terrorising Nigeria?

If it was Ibo in place of Fulani in your useless post , you will be crying everywhere to the mods.

Don't mention me again you bloody hypocrite

Schizoid

Fiscus105:



Hope u also know that, press men are always at Vila, day and night.

To gather press is a twinkle of an eye if situation demands for it.

I am sure most of you here never knew this agency existed talk more of this man being the head of it.

Throughout his time in office , how many press conferences has he granted and had any of it been done immediately after a summoned meeting with the President ?

Abubauchi:
ok bring the page where the breaking news shows that

Use brain.

Head of Nigeria's most sensitive security apparatuses leaves the office of the President and is met with an army of Press men waiting for his address.


Presidency already arranged the Aso Villa Press corps that he will be making a significant announcement.


If he resigned without any pressure , he won't need to address a prearranged crowd of pressmen.

Fiscus105:


He might have compromised, trust northerners at ur own peril, wen they are not in govt

Fact that he left the meeting with the President to go meet a Press gang who had been briefed of his special announcement shows he was called in to resign .

Ennyjude:
Something is not adding up

Yes nah.

How can you explain the head of one off Nigeria's apex security outfits leaving the office of the President only to be surrounded by waiting army of Press men ?

President called him to demand his resignation and go and address the press on his resignation.

SmartPolician:


That's false. Wherever there's a mutual suspicion, it simply shows that the leaders have proven over the years that they cannot be trusted, making the populace scrutinize or question everything. In ideal societies, people even give their enemies the benefit of the doubt.

Nah.

Skeptics are the real watch dogs who hold leaders to account.

Without them, there won't be need for Govt Press release.