“Moments ago, a unanimous jury discovered Sung Kook ‘Bill’ Hwang and Patrick Halligan responsible of a massive market manipulation scheme through the non-public funding firm Archegos. “Miles Guo, an exiled Chinese businessman and purported billionaire, brazenly operated a quantity of interrelated fraud schemes, all designed to fleece his loyal followers out of their hard-earned money so that Guo... Ben has substantial experience counseling clients and negotiating on their behalf. At OPEXUS, he works to make sure the corporate is not just an adopter but a driver of change within the market, negotiating how the corporate facilitates technological change.
Tingo Group, Inc. is a world Fintech and Agri-Fintech group of firms with operations in Africa, Southeast Asia and the Middle East. Tingo Group’s wholly owned subsidiary, Tingo Mobile, is the main Agri-Fintech firm working in Africa, with a complete portfolio of innovative merchandise, together with a ‘device as a service’ smartphone and pre-loaded platform product. He additionally has a pet elephant, Dinky, who he brings with him to America. In trendy instances the practice of tingo has prolonged beyond the country confines of Easter Island and is usually undertaken by the corporation.
MMOBUOSI then offered Tingo Mobile and Tingo Foods to corporations listed in the United States, including Tingo Group (listed on Nasdaq as “TIO”) and Agri-Fintech Holdings (traded within the Over-the-Counter Markets under image “TMNA”). As a result, MMOBUOSI brought on Tingo Group and Agri-Fintech to issue monetary statements that falsely portrayed Tingo Mobile and Tingo Foods to be cash-rich, revenue-generating corporations when, in reality, they weren't. MMOBUOSI then looted Tingo Group and Agri-Fintech by misappropriating cash from those firms and engaged in well-timed sales of their shares at inflated costs, producing hundreds of thousands of dollars of profits from his scheme. According to its web site explore Tingo, Tingo Group “is the main Agri-Fintech firm working in Africa.” The firm says it presents app-based providers to 32 million farmers world-wide with a ‘seed-to-sale’ market platform, insurance, micro-finance, and mobile phone providers. The SEC sued Tingo and two related corporations in December, alleging they booked billions of dollars in fraudulent transactions via two Nigerian subsidiaries and reported tons of of tens of millions of dollars in faux revenue and property. The regulator accused Tingo’s chief executive officer, Mmobuosi Odogwu Banye, of orchestrating the scheme. Tingo last week filed to delist its shares from the Nasdaq.
Tingo’s tail wags are invaluable in making certain day by day smiles, as are his language abilities. Tingo speaks English, French and Lingala (although he’s forgotten the word “come” in all languages!). On high of this, the corporate triggered numerous threat warnings for corporate governance and business manipulation. There have been, for example, indicators of extreme enterprise interplay with affiliates, too much non-operating income, too much restatement of its accounts, and an excessive amount of options issuance. Tingo categorically refuted all the allegations of the report, saying it was full of "deceptive and libellous content material". The company also said it had hired a legislation agency to conduct an impartial review of Hindenburg's claims.
The Transparently.AI risk engine gave Tingo Group Inc. manipulation risk scores of 88%, 89% and 90% in 2020, 2021 and 2022, respectively. In Pascuense, the language spoken on Easter Island, the word “tingo” refers to the act of progressively borrowing items from a friend’s home till, one by one, there’s nothing left. It is a pleasant custom which, coincidentally, offers an alternative explanation for the lack of timber on the island. As somebody who spends a lot of time scanning the net for Nigeria related tales (sign up for our weekly newsletter here), I can let you know that Nigeria has a severe picture problem around the globe. It is an issue worth trying to fix by the country’s leaders as a matter of urgency. This is even worse than Hadi Sirika’s fake Nigeria Air launch on the day earlier than he left office. Last week, The Athletic reported how Mmobuosi is the only real shareholder of a company known as Tingo Airlines.
