• Friday, March 01, 2024
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Dozy Mmobuosi denies US fraud allegation, prepares legal defense

Dozy Mmobuosi denies US fraud allegation, prepares legal defense

Dozy Mmobuosi, the former CEO of Tingo Group, has denied the securities fraud allegations levelled against him by the US Federal Bureau of Investigation and the United States Attorney for the Southern District of New York.

Mmobuosi is accused of securities fraud, making false filings with the Securities and Exchange Commission (SEC), and conspiracy. The embattled founder of Tingo Group could face up to 45 years in prison.

In a statement sent by his representative, Mmobuosi said he rejects the “validity of all the allegations presented by the United States Department of Justice via the US Attorney’s Office for the Southern District of New York. According to their statement published on January 2, 2024, Mr. Mmobuosi is alleged to have misrepresented the companies he once ran in the United States market.”

“Mr Mmobuosi wishes to make it unequivocally clear that these allegations are unfounded, and he is preparing to contest them to the full extent of his capacity. However, he will not be making specific statements regarding the allegations for now, as the matter is now in the purview of the courts,” the statement noted.

He also denied that he was, at large, a resident of the United Kingdom. He pledged his commitment to cooperating with the legal authorities to ensure a thorough and fair examination of the facts, which he believes will lead to his exoneration.