Dozzy Mmobuosi (“DM”) has rejected the validity of all accusations and allegations of wrongdoing as outlined in the civil complaint filed by the United States Securities and Exchange Commission (SEC) on December 18, 2023.
This complaint implicates Mr. Mmobuosi alongside three other corporate entities – Tingo Group Inc., Agri-Fintech Holdings Inc., and Tingo International Holdings Inc.
In an official statement from Dozy Mmobuosi regarding the SEC civil complaint, Mr. Mmobuosi said unequivocally clear that these allegations are baseless and he will contest them with unwavering resolve.
“As this matter is currently under legal scrutiny, and following the advice of legal counsel, Mr. Mmobuosi will refrain from making any further public statements regarding this issue”.
“It is Mr. Mmobuosi’s intention to address and resolve these allegations within the appropriate legal framework. He is committed to cooperating with the legal process to ensure a thorough and fair examination of the facts, which he believes will ultimately lead to his exoneration.
“We appreciate the understanding of the media and the public during this time and request respect for the legal process and the principles of justice”, the statement reads.
Background
The charges stem from an alleged multi-year scheme, spearheaded by Mmobuosi, to inflate financial performance metrics and fabricate documents for Tingo Group and its subsidiaries, Tingo Mobile and Tingo Foods PLC.
The SEC’s complaint, filed on December 18, 2023, outlines a series of grave allegations against Mmobuosi, accusing him of orchestrating a scheme since at least 2019 to deceive investors worldwide.
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