Nigerian Mmobuosi Odogwu Banye a/k/a Dozy Mmobuosi is the CEO of three affiliated U.S. based entities. Tingo Group’s fiscal year 2022 Form 10-K filed in March 2023 reported a cash and
cash equivalent balance of $461.7 million in its subsidiary Tingo Mobile’s Nigerian bank accounts.
Those same Nigerian bank accounts allegedly had a combined balance of less than $50 as of the end of fiscal year 2022.
Nigerian math.
Was this a scheme to sell worthless investments, disappear the money, and cash out via bankruptcy?