Tingo Group controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2025
Enforcement action against external auditor
The SEC settled an action against Nigerian auditor Olayinka Temitope Oyebola and his firm concerning alleged concealment of fabricated audit reports connected to Tingo filings. The sanctions included permanent injunctions, a six-year SEC practice suspension, and $200,000 in penalties.
2024
Criminal charges against Dozy Mmobuosi
Mmobuosi was charged with securities fraud, false SEC filings, and conspiracy. He denied the allegations.
2024
Civil default judgment
A New York federal court ordered Mmobuosi and three entities to pay $250 million after entering a final judgment by default in the SEC’s civil case.
2023
Hindenburg Research fraud allegations
Hindenburg Research alleged that Tingo was fraudulent and challenged the credibility of its reported customers, operations, financial position, and partnerships. Tingo denied the claims and said that an outside-counsel review supported its position.
2023
SEC trading suspension and civil fraud complaint
The SEC suspended trading in Tingo securities and later charged Mmobuosi and three related entities with alleged fraudulent financial claims, false disclosures, and investor deception.