The Downfall of Dozy Mmobuosi

Patrick Boyle On Finance

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Dozy Mmobuosi, the founder and CEO of Tingo Mobile has been accused by US Regulators of running a "staggering fraud."
Tingo Mobile claimed to provide mobile phones to rural farmers in Nigeria and build a fintech super app. It quickly grew into a multibillion-dollar empire with a listing on New York’s Nasdaq stock exchange.
Dr Dozy, the London-based tycoon attempted to buy the Premier League football team Sheffield United but struggled to prove his financial resources.
It turns out that Mmobuosi’s businesses, as they were commonly understood, may never have existed.
The SEC has accused the Nigerian businessman Mmobuosi Odogwu Banye – of perpetrating an ongoing fraud of “staggering” proportions.
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