An alleged ‘billionaire fraudster’ who lived a life of luxury and offered to save Sheffield United football club is now being hunted by the FBI after being accused of ‘fleecing’ investors and disappearing without a trace from his London home.
Nigerian-born Dozy Mmobuosi, 45, vanished from his luxurious Eccleston Square, London townhouse early last month, his neighbours told The Sunday Times.
He disappeared after US authorities charged him with securities fraud, making false filings with the Securities and Exchange Commission (SEC), and conspiracy charges following an FBI investigation.
He has been accused of ‘falsely representing’ his companies Tingo Mobile and Tingo Foods and claiming they were ‘operational’, ‘profitable’ and ‘generating hundreds of millions of dollars in revenue’, the indictment states.
Mmobuosi, real name Odogwu Banye Mmobuosi, has been accused of ‘reaping millions of dollars in illicit profits’ through illegal share sales and ‘looting’ at least £16million from ‘publicly listed companies’.
He is understood to have purchased a fleet of Rolls Royces, employed bodyguards and a personal chef, and spent off at least £6.5million in a failed bid to Sheffield United football club.
He is also alleged to owe tens of thousands of pounds in unpaid rent to landlords in both London and Hertfordshire.
Mmobuosi, whose current whereabouts remain unknown, reportedly ‘popped up’ in Nigeria a few days ago to launch a food processing plant that he allegedly claims would create 12,000 jobs.
He and Tingo Group, his global Fintech and Agri-Fintech group of companies, deny all wrongdoing – but he is accused of almost ‘entirely fabricating’ his businesses accounts.
US prosecutors in Manhattan unveiled criminal charges against Mmobuosi in early January, saying he lied to investors about his companies’ finances.
They say Mmobuosi falsely represented that his Tingo Mobile cellular business and Tingo Foods agriculture business were profitable, generating hundreds of millions of dollars of revenue.
He sold both businesses to Tingo Group and Agri-Fintech Holdings, caused them to falsely portray the businesses as ‘cash-rich, revenue-generating companies,’ and looted millions of dollars by misappropriating cash and selling stock at inflated prices, the indictment said.
The alleged scheme occurred from 2019 to 2023, according to prosecutors.
About The Author
