Tingo Group Interim CEO Steps Down Amid SEC Complaint
Tingo Group's interim co-CEO steps down temporarily amid SEC complaint, while the company vows to defend itself against allegations of fraudulent practices.
Montvale, N.J. - Tingo Group, a fintech company based in Montvale, has announced that its interim co-CEO, Dozy Mmobuosi, will be stepping down from his position temporarily. This decision comes in light of a complaint filed against Mmobuosi by the Securities and Exchange Commission (SEC).
According to Tingo Group, Mmobuosi has agreed with the board of directors to temporarily step aside until the allegations made against him have been cleared. In the meantime, the company assures its clients and stakeholders that it will continue to operate as usual.
In order to ensure a smooth transition, Ken Denos, the current interim co-CEO, will now serve as the interim group CEO. Denos brings a wealth of experience to the role and is ready to take on this added responsibility.
Tingo Group is fully committed to vigorously defending itself against the charges brought by the SEC. The company will cooperate fully with the investigation and will employ any necessary means to clear its name.
The SEC alleges that Mmobuosi engaged in fraudulent practices by inflating the financial performance metrics of companies he is affiliated with. Specifically, they claim that Mmobuosi fabricated financial statements and other important documents related to Tingo Group, Agri-Fintech Holdings, Tingo International Holdings, and other operating subsidiaries.