The United States District Court Southern District of New York has awarded a monetary claim in excess of $250 million against the Nigerian founder of Tingo Group Mmobuosi Odogwu Banke (a.k.a Dozy Nwabuosi), indicted by the country’s securities and exchange commission for far-reaching fraud that ran for years and had investors around the world as its victims.
Tingo Group, Agri-Fintech Holdings Inc. and Tingo International Holdings – three entities controlled by Mr Nwabuosi who, at the same time is their chief executive officer, were also involved in the litigation.
The companies, based in the US, purportedly run businesses ranging from fintech, agritech and telecom services to insurance and microfinance.
