Investing
Tingo Group CEO temporarily steps down after US SEC charges
© Reuters. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo
(Reuters) – Tingo Group said on Wednesday that Nigerian businessman Dozy Mmobuosi has temporarily stepped down as interim co-CEO of the fintech firm after the U.S. Securities and Exchange Commission (SEC) filed charges alleging fraud.
The SEC on Monday filed charges against Mmobuosi and three companies of which he is CEO, alleging they inflated the financial performance of the companies and key subsidiaries to defraud investors.
Ken Denos will serve as interim co-CEO of Tingo Group until further notice, the company said on Wednesday.
Tingo Group’s shares slumped in June after short-seller Hindenburg Research criticized its founder and alleged that the fintech firm had “fabricated” its financials.
Tingo categorically refuted all the allegations of the report, saying it was full of “misleading and libellous content”. The company also said had hired a law firm to conduct an independent review of Hindenburg’s claims.
Read the full article here
Zillow: These Are the Top 10 Hottest Housing Markets of 2025
Former Zillow Execs Target $1.3T Market
Automate Applications and Supercharge Your Job Hunt for $39
All the PDF Tools You Need in One Easy-to-Use App
Bank regulator gives BlackRock new deadline on bank stakes, Bloomberg reports By Reuters
5 Things That Could Significantly Impact Your Company in 2025
NFI Group surge after board reshaped with new appointments, chairperson By Investing.com
Microsoft Is About to Begin Job Cuts. Here’s Why.
10 Critical Questions to Ask Your Financial Advisor Now
10 Ways to Make Money As a Graphic Designer
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Side Hustles7 days ago5 Things That Could Significantly Impact Your Company in 2025
-
Investing7 days agoNFI Group surge after board reshaped with new appointments, chairperson By Investing.com
-
Side Hustles4 days agoMicrosoft Is About to Begin Job Cuts. Here’s Why.
-
Make Money4 days ago10 Critical Questions to Ask Your Financial Advisor Now
-
Make Money2 days ago10 Ways to Make Money As a Graphic Designer
-
Passive Income6 days ago3 Challenges Entrepreneurs Will Face in 2025
-
Side Hustles6 days agoThe Canadian Media Lawsuit That Could Reshape Tech’s Future
-
Investing5 days agoWhat CMOs Need to Know About AI Adoption in Marketing Teams