Businessman Dozy Mmobuosi has described as baseless the allegations of fraud levelled against him and his group of companies by the United States Securities and Exchange Commission (SEC).
Mr Mmobuosi’s three affiliated US-based entities accused of fraud of which he is the chief executive officer are Tingo Group Inc., Agri-Fintech Holdings Inc., and Tingo International Holdings Inc.
In a statement released on Friday, Mmobuosi said in his first response since the allegations were made that he would refrain from making public comments about the issues raised because they are now being contested in court.
He said he believed he would be exonerated from the allegations of wrongdoing as outlined in the civil complaint filed by the SEC on December 18.
“Mr. Mmobuosi wishes to make it unequivocally clear that these allegations are baseless and he will contest them with unwavering resolve. As this matter is currently under legal scrutiny, and following the advice of legal counsel, Mr. Mmobuosi will refrain from making any further public statements regarding this issue,” the statement said.
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“It is Mr. Mmobuosi’s intention to address and resolve these allegations within the appropriate legal framework. He is committed to cooperating with the legal process to ensure a thorough and fair examination of the facts, which he believes will ultimately lead to his exoneration.
“We appreciate the understanding of the media and the public during this time and request respect for the legal process and the principles of justice.”
According to the SEC, its case is filed in the US District Court for the Southern District of New York, and the four defendants are being charged with violating the anti-fraud provisions of the federal securities laws.
The commission added that Mmobuosi was being charged with lying to auditors, insider trading, and failing to file Forms 4 disclosing the sales of millions of Agri-Fintech common stock for which he was the ultimate beneficial owner.
