Techmeme@Techmeme

11 months ago

A US court ordered Nigerian businessman Dozy Mmobuosi, founder of NJ-based Tingo, to pay $250M+ in fines after SEC alleged he inflated Tingo's financial records (@aanuadeoye / Financial Times) https://t.co/aKwnikv3iY 📫 Subscribe: https://t.co/OyWeKSQRTe https://t.co/99sYd2Wy1G

The businessman didn't even attempt to address the SEC complaint: "[The judge] entered a final judgment by default against Mmobuosi and his companies after the entrepreneur failed to make any representations in the civil complaint filed last December by the SEC." 🫢🫢 https://t.co/75Vjsh0HaM https://t.co/pFb0MFZfbr

A US federal court ordered a Nigerian fintech chief to pay more than $250mn in fines after the SEC alleged that his empire, Tingo Group, was a “fiction.” The court also barred him from serving as a director of a public company. New by @aanuadeoye. https://t.co/BMCHo19WGT