Fraud: US Charges, Odogwu Mmobuosi Who Allegedly Tried To Buy Sheffield United - Politics - Nairaland
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| Fraud: US Charges, Odogwu Mmobuosi Who Allegedly Tried To Buy Sheffield United by lexylaw40: 1:06pm On Jan 04 |
Tori NewsJan 4, 2024 10:06 AM Mmobuosi, the former co-chief executive officer of Tingo Group (TIO.O), was charged with securities fraud, making false U.S. Securities and Exchange Commission filings, and conspiracy in an indictment made public on Tuesday. Odogwu Banye Mmobuosi Prosecutors in Manhattan, United States, have revealed criminal charges against Odogwu Banye Mmobuosi, a Nigerian fintech businessman who recently made an attempt to acquire the Premier League club Sheffield United. They said the 45-year-old lied to investors about his companies’ finances. Mmobuosi, the former co-chief executive officer of Tingo Group (TIO.O), 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, Mmobuosi, falsely represented that his Tingo Mobile cellular business and Tingo Foods agriculture business were profitable, generating hundreds of millions of dollars of revenue. Mmobuosi sold both businesses to Tingo Group and Agri-Fintech Holdings (TMNA.PK), caused them to falsely portray the businesses as “cash-rich, revenue-generating companies,” and looted millions of dollars by misappropriating cash and selling stock at inflated prices, the indictment said. The alleged scheme occurred between 2019 to 2023, prosecutors said. Meanwhile, Mmobuosi temporarily stepped down as Tingo Group’s co-CEO on December 20. Before he stepped down, the SEC had in December filed civil charges accusing him for orchestrating a “staggering” fraud.
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| Re: Fraud: US Charges, Odogwu Mmobuosi Who Allegedly Tried To Buy Sheffield United by lexylaw40: 1:11pm On Jan 04 |
Hmm.. |
| Re: Fraud: US Charges, Odogwu Mmobuosi Who Allegedly Tried To Buy Sheffield United by lexylaw40: 1:12pm On Jan 04 |
Na Tinubu |
| Re: Fraud: US Charges, Odogwu Mmobuosi Who Allegedly Tried To Buy Sheffield United by seanfer(m): 1:13pm On Jan 04 |
Tired of reading about all this fraud news.... |
| Re: Fraud: US Charges, Odogwu Mmobuosi Who Allegedly Tried To Buy Sheffield United by Northernblood9(m): 1:23pm On Jan 04 |
Ok |
| Re: Fraud: US Charges, Odogwu Mmobuosi Who Allegedly Tried To Buy Sheffield United by matify83: 1:33pm On Jan 04 |
Kai!!! Another one has "fall our hands" again. Must we always be in the news for the wrong reasons? Why evade taxes and misappropriate your company's funds.? Now, oyibo people will liquidate your sweat and still jail you for some years and by the time you make it out, the world would have left you behind. |
| Re: Fraud: US Charges, Odogwu Mmobuosi Who Allegedly Tried To Buy Sheffield United by lexylaw40: 4:38pm On Jan 04 |
.. |
| Re: Fraud: US Charges, Odogwu Mmobuosi Who Allegedly Tried To Buy Sheffield United by ElSudani: 4:50pm On Jan 04 |
Another Invictus loading. Audio billionaire. This guy came to Nigeria to lay the foundation of a non existence food processing factory! Na wa o. 1 Like |
| Re: Fraud: US Charges, Odogwu Mmobuosi Who Allegedly Tried To Buy Sheffield United by Mynd44: 8:56pm On Jan 04 |
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