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Nairaland Forum / Nairaland / General / Business / Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise (27433 Views)
Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US / Minister Of Agriculture, Desmond Elliot, Others At The Tingo Foods Facility Lau / Tingo Foods Targets 12000 Jobs With Multi-Billion Naira Food Processing Facility (2) (3) (4)
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Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by Seun(m): 5:53pm On Jun 06, 2023 |
Nigerian businessman Dozy Mmpbuosi, founder of American-based Tingo Group Inc, which is listed on NASDAQ as TIO, is a scammer. This was revealed by Hindenburg Research, an American forensic finance firm, which shorted the Tingo Group Inc's shares after an extensive investigation which included visits to the company's offices and facilities in Nigeria. Read their report here. Key Revelations: In 2017, Dozy was arrested and faced an 8-count indictment over issuance of bad checks, according to the Nigerian Economic and Financial Crimes Commission. He later settled the case in arbitration. In 2019, Dozy claimed to have launched “Tingo Airlines” and posted social media messages encouraging customers to “fly with Tingo Airlines today”. Media outlets later uncovered that Tingo had photoshopped its logo onto pictures of airplanes. Dozy later admitted to never owning any actual aircraft. In February 2023, the company held a groundbreaking ceremony for a planned $1.6 billion Nigerian food processing facility of its own, attended by the country’s agriculture minister and other political luminaries. Tingo claimed that members of 2 unnamed farming cooperatives supply the majority of its then 9.3 million userbase, consisting of local Nigerian farmers. These farmers supposedly form the core of the company’s phone customers and provide the agricultural products used in Tingo’s food processing and trading businesses. Tingo claimed its mobile handset leasing, call and data segments Tingo Mobile generated $128 million in revenue last quarter (~15% of total), claiming these services are provided through an agreement with Airtel (which Airtel has denied) in Nigeria. The type of license they claim did not exist until June, 2023. TingoPay (part of Tingo Mobile) claimed in 2021 to have launched a partnership with a Stanbic IBTC Bank In a May 2023 press release, Tingo claimed its brand-new agricultural export business, Tingo DMCC, was on track to deliver over U.S. $1.34 billion in exports by Q3. 35 Likes 10 Shares
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Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by cao(f): 5:58pm On Jun 06, 2023 |
I honestly don't understand how people can do business fraudulently. How they don't just panick when they don't have anything worthy of a business? They just continue collecting money and living large. I know my own conscience would not let me be. 152 Likes 13 Shares |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by Corridon: 5:58pm On Jun 06, 2023 |
I knew this man will definitely be a fraud the moment he was bragging about buying Sheffield United. Imagine a man without a traceable source of income talking about spending millions of dollars to buy a premier league club. 130 Likes 5 Shares |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by Pipefitter: 6:04pm On Jun 06, 2023 |
Ok |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by slawomir: 6:04pm On Jun 06, 2023 |
Damnnn niggar Isoright 3 Likes 2 Shares |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by fastseo: 6:05pm On Jun 06, 2023 |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by gaby(m): 6:05pm On Jun 06, 2023 |
Wahala... The real definition of building castles in the air... Choiii 87 Likes 2 Shares |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by 27Pushing30: 6:05pm On Jun 06, 2023 |
wetin be Tingo before? lol 15 Likes |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by Anthony0094(m): 6:05pm On Jun 06, 2023 |
j |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by savcy(m): 6:06pm On Jun 06, 2023 |
Nigerians whyyy!!! Whyyyyy!!! 13 Likes |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by HacheNoire: 6:06pm On Jun 06, 2023 |
His head alone will tell you that, he is a fraudster Why I don’t do business with people who have round or flat head. And when they are same time short, just run away! 74 Likes 4 Shares |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by babaRUNtinz(m): 6:06pm On Jun 06, 2023 |
We go kúkú Learn sense one day! 2 Likes 1 Share |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by ednut1(m): 6:06pm On Jun 06, 2023 |
Inspire to perspire. So many of those we look up to as billionaires are basically scammers who game banks.the banks then write off the loans. 103 Likes 7 Shares |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by youngreezy(m): 6:06pm On Jun 06, 2023 |
na WA oo 1 Like 1 Share |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by thesicilian: 6:06pm On Jun 06, 2023 |
HacheNoire:Except your fellow eggheads 7 Likes |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by Bashoruntolu(m): 6:07pm On Jun 06, 2023 |
How about the sponsorship of our FA cup competition in alliance with NFL? 4 Likes |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by PHZADDY1(m): 6:07pm On Jun 06, 2023 |
Keep up with your investigation...I know you've been on this nigga's aass for months now,you'll get paid.Make your life better and stop all this checks 5 Likes 3 Shares |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by symbianDON(m): 6:07pm On Jun 06, 2023 |
Wahala! Wahala!! Wahala!!! 4 Likes 1 Share |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by LUAN1: 6:07pm On Jun 06, 2023 |
Thanks for sharing 2 Likes |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by petux(m): 6:07pm On Jun 06, 2023 |
I wonder who keep buying shares of these firms without making proper research... On the flip side, the article mentioned that the research firm already shorted the stock. This might just be a fossil attempt to create fud, so people could panic sell, thereby giving them crazy returns ...but what do I know? 6 Likes |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by olab059(m): 6:08pm On Jun 06, 2023 |
HacheNoire: lol 3 Likes 1 Share |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by Semaj77(m): 6:08pm On Jun 06, 2023 |
Criminal 1 Like |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by Bigbright7(m): 6:08pm On Jun 06, 2023 |
I laugh at people trying to criticize others for sharp practices. Take it or leave it, fraud is now a norm in Nigeria, even our president has a record of fraud and drugs to he Curriculum. Just like the old pigin saying “ na who dey catch be thief”. As bad as it is, it’s the truth and we must accept it. 29 Likes 3 Shares |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by Gangster1ms: 6:08pm On Jun 06, 2023 |
I thought he was based in uk 1 Like |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by Newyorkitis(m): 6:08pm On Jun 06, 2023 |
This one coming from Seun is not a joking matter at all. 2 Likes |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by TalkTalkTwins(m): 6:08pm On Jun 06, 2023 |
ok |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by WebSurfer(m): 6:08pm On Jun 06, 2023 |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by ecolime(m): 6:08pm On Jun 06, 2023 |
PHZADDY1:Mr Tingo, is that you? 🤔 42 Likes 5 Shares |
Re: Tingo Group (Dozy Mmobuosi) Is A Fraudulent Enterprise by Humbrown23(m): 6:08pm On Jun 06, 2023 |
Isn't this the individual who asserts that he is on the verge of finalizing the purchase of Sheffield United? 31 Likes 2 Shares |
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