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Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US - Business - Nairaland

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Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Firstcitizen: 7:02am On Sep 02
A US federal court has ordered a Nigerian businessman, Dozy Mmobuosi who last year sought to buy the English football club Sheffield United, to pay more than $250mn in fines and barred him from serving as a director of a public company.

Last year, the US Securities and Exchange Commission had charged Dozy Mmobuosi and three of his companies, including two Nasdaq-listed enterprises, with fraud for inflating the “financial performance metrics of his companies and key operating subsidiaries to defraud investors worldwide”.

Judge Jesse M Furman, of the US District Court for the Southern District of New York, has now 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.

The judge wrote that Mmobuosi and his companies, Tingo Group, Agri-Fintech Holdings and Tingo International Holdings, had “failed to answer, plead, or otherwise defend” themselves in the case. Mmobuosi and his three US-based entities have been ordered to pay more than $250mn in fines after the SEC alleged that his empire was a “fiction”.
https://www.ft.com/content/a5b0aa78-2e8d-456a-9784-ffd5f9b9bbbd

17 Likes 5 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by njikoka(m): 7:13am On Sep 02
Tinubu is a disaster

46 Likes 1 Share

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by condensedmilk: 7:13am On Sep 02
The thread landed frontpage in less than 4 minutes.

Mods Una well-done o!

28 Likes 1 Share

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Mitsurugi(m): 7:13am On Sep 02
Mumu wan buy English Football club with $50 😂😂😂😂😂

64 Likes 5 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Amayabor1: 7:14am On Sep 02
Na them!

Fraudsters! Tomorrow, they will be shouting "odogwu".

94 Likes 9 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Jogs1900: 7:14am On Sep 02
Nigeria Amaka

7 Likes

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Thewrath(m): 7:14am On Sep 02
He is from delta state’s anioma.
Nigerians will say they are igbos when they do crime but when they progress,they are not igbos grin

97 Likes 4 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Globad(f): 7:14am On Sep 02
Fintech chief don turn to fintech thief

72 Likes 11 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by 89green: 7:14am On Sep 02
Wahala promaxx

3 Likes

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by bamac(m): 7:14am On Sep 02
It is well!
Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Digmygold: 7:14am On Sep 02
Na den dem give Motivational Speech pass on how to get rich quick.

53 Likes 7 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by ribbit: 7:14am On Sep 02
Isn't that Peter Obi's friend and one of his internet campaign managers?

The man just packed criminals, bigots and ipob terrorists join body.

116 Likes 17 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Boyooosa(m): 7:15am On Sep 02
We need a replica of this kind of judicial system in Nigeria, corruption is killing us day by day

46 Likes 4 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Konquest: 7:15am On Sep 02
Firstcitizen:


A US federal court has ordered a Nigerian businessman, Dozy Mmobuosi who last year sought to buy the English football club Sheffield United, to pay more than $250mn in fines and barred him from serving as a director of a public company.

Last year, the US Securities and Exchange Commission had charged Dozy Mmobuosi and three of his companies, including two Nasdaq-listed enterprises, with fraud for inflating the “financial performance metrics of his companies and key operating subsidiaries to defraud investors worldwide”.

Judge Jesse M Furman, of the US District Court for the Southern District of New York, has now 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.

The judge wrote that Mmobuosi and his companies, Tingo Group, Agri-Fintech Holdings and Tingo International Holdings, had “failed to answer, plead, or otherwise defend” themselves in the case. Mmobuosi and his three US-based entities have been ordered to pay more than $250mn in fines after the SEC alleged that his empire was a “fiction”.
https://www.ft.com/content/a5b0aa78-2e8d-456a-9784-ffd5f9b9bbbd
Dozy... The dude hails from Onicha Ugbo in Delta State (The same Aniocha North LGA where Tony Elumelu hails from in Delta North) and speaks very fluent Yoruba as well. Tbh, a significant number of companies even in the U.S. are being operated unethically by their directors. When external forensic auditors are invited, that is when you'll get to see a lot of discrepancies.


Whoa! 250 million USD is a lot to pay in fines. If he can't pay, he should just file for bankruptcy and that would negatively affect his credit history. It always pays to be ethical in ones dealings when engaging in local and international business... Be open to investors about your company record books and always read the fine prints when signing contracts.

41 Likes 5 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Saidfx(m): 7:16am On Sep 02
Mmobuosi and his three US-based entities have been ordered to pay more than $250mn in fines after the SEC alleged that his empire was a “fiction”.

Fiction indeed

40 Likes 2 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by armadeo(m): 7:16am On Sep 02
Mitsurugi:
Mumu wan buy English Football club with $50 😂😂😂😂😂

Lol. No mind these clowns.

They carry their nigerian mentality of a long as I have money nobody would ask me how ingot it to the global scene. Very daft people.

51 Likes 7 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by WeddingParol: 7:16am On Sep 02
It's a Monday morning, I wouldn't say anything

6 Likes

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Naira20: 7:16am On Sep 02
Tinubu minions come o.... They'd accuse PO because the guy is from PO's part of the country whilst Tinubu remains an international fraud.

14 Likes 2 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by techbro1: 7:18am On Sep 02
$250m ke? Where he wan see am? : shocked shocked

11 Likes 3 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by shivisee: 7:18am On Sep 02
grin cheesy Peter obi was snapping picture with this fraud the other day,calling him the future of Nigeria tech!
Na so the agulu scammer scam the scammer in the name of election! Hope he will not mention obi as beneficiary of his proceeds ?? cheesy ipob,s need to pray for their package fraud now, he might not get out of this!

48 Likes 7 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by JoshTim: 7:18am On Sep 02
Many sins that will be overlooked here in Nigeria are actually punishable in the US, UK, Canada and the likes.

Always check yourself and also know the laws in these countries before coming out to boast. He that comes to equity...

48 Likes 8 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Brendaniel: 7:19am On Sep 02
It is well

1 Like

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Naira20: 7:20am On Sep 02
Okay?

So PO snaps with a convicted criminal in prison, he must be his associate or a criminal too.

Tinubu's supporters are just too daft.
More than one year you guys can't point to one crime committed by PO...it's either someone that is from his village did this or that.

I won't be surprised you guys will clone another Peter Obi in Chicago with heroin business and forged certificate
shivisee:
Peter obi was snapping picture with this fraud the other day,calling him the future of Nigeria tech! grin

17 Likes

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by RevenuesBoost(f): 7:21am On Sep 02
Very good
Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by ecolime(m): 7:21am On Sep 02
For just overbloating his Financials?

Meanwhile, where hin wan see $250M? cheesy

American judges ehn

16 Likes 3 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by datola: 7:21am On Sep 02
Fintech chief thief!

4 Likes

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by 36STATES: 7:21am On Sep 02
First of all it is wrong to call him a fintech chief, he is just a fraudster and all his business ideas are rubbish.

But why would a judge fine someone who has no dollar to his name $250M??
These US judges sometimes are so useless that you begin to wonder if they really mean this or is it to make headlines.

17 Likes 1 Share

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by tishbite42: 7:21am On Sep 02
So they expect a fictional or fictitious business empire to pay them a quarter billion dollars

The Yankees must be drunk on cheap wine
They should just arrest and imprison the criminal

13 Likes

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by FuckSilly: 7:22am On Sep 02
Osu........



Criminal minded!


GREED!!!

GREED IS THE GREATEST SIN OF ALL

REASON WHY PEOPLE STEAL...
REASON WHY PEOPLE CHEAT IN RELATIONSHIPS...
REASON WHY PEOPLE KILL
ETC

3 Likes 1 Share

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by Patriotic9ja(m): 7:22am On Sep 02
Hushpuppies elder brother. Criminals everywhere.

But these US courts/judges are bigger criminals. Business that you referred to as "fiction", na him una dey Bill over 200 million USD? Legal thieves!!. I'm not supporting criminal activities. But I know if it were their own American in similar situation, the fine would be far less than that. What a "Saner climes"!

15 Likes 5 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by victorDanladi: 7:23am On Sep 02
njikoka:
Tinubu is a disaster
[b]Igbo people 😆

You cant distract us from know that that guy was called the future of fintech in Nigerian by pethief OB[/b]I

20 Likes 4 Shares

Re: Fintech Chief, Dozy Mmobuosi Fined $250 Million For Fraud In The US by waxyung(m): 7:24am On Sep 02
njikoka:
Tinubu is a disaster

Read again comrade. No be Tinubu dem fine o. Na Dozy Mmobuosi.

Abi how this one take be Tinubu issue again

27 Likes 5 Shares

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