By Ben Glickman
Tingo Group’s founder and former interim co-chief executive Dozy Mmobuosi has been indicted on charges of securities fraud, making false filings and conspiracy.
The indictment, unsealed Tuesday by the U.S. Attorney’s Office for the Southern District of New York, alleges that Mmobuosi sought to enrich himself by misrepresenting the company’s profits and business results.
Prosecutors say Mmobuosi, 45, caused Tingo Group, a fintech company, to issue financial statements to the U.S. Securities and Exchange Commission with false results. Prosecutors also allege Mmobuosi then used cash from companies he ran and sold shares at inflated prices.
Mmobuosi temporarily stepped down from his role with the company after being named in a complaint by the SEC last month.
Prosecutors said Mmobuosi is still at large.
Write to Ben Glickman at [email protected]
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