How we uncovered allegations about Dozy Mmobuosi three years ago

There has been a lot of recent media interest into the apparent disappearance of the Nigerian businessman who tried and failed to buy Sheffield United in 2023.

Doubts about Tingo are not news to our clients

Dozy Mmobuosi is accused of stealing from investors and “reaping millions of dollars in illicit profits” through illegal share sales. He is also said to have looted at least £16 million from publicly listed companies to bankroll his lavish lifestyle which included a fleet of Rolls Royces.

The vanishing ‘billionaire’

The Sunday Times ran an investigation into the self-styled billionaire owner of an African telecoms, agri-foods and healthcare conglomerate – Tingo – who is said to have vanished from his six-storey Pimlico townhouse after the US authorities charged him with a billion-dollar fraud after an lengthy investigation by the FBI. 

 

The charges centre on allegedly fictitious claims by Mmobuosi about the profitability of the Tingo Group just before its flotation on the New York Stock Exchange. Mmobuosi is also facing a parallel civil action by the Securities and Exchange Commission (SEC) alleging that Tingo Mobile is a “fiction… [with] its purported assets, revenues and expenses, customers and suppliers… virtually entirely fabricated”.

The doubts about Mmobuosi are nothing new to InsightX and its clients. A full two years before the FBI launched its investigation into Tingo and its CEO, our researchers and journalists were commissioned by a Premier League club to provide intelligence on both the individual and the corporate group. As with Sheffield Utd, our client had been approached by Mmobuosi with an offer to make a substantial investment in the club.

Our investigation into Mmobuosi and his operations raised a number of troubling questions about the Nigerian and the profitability and viability of his group of companies. Using multi-lingual research teams, financial analysts and journalists conducting on-the-ground interviews in Africa, we reported to our client:

  • How Mmobuosi had appeared in the High Court in Lagos on eight charges of cheque fraud
  • Allegations that the Nigerian CEO defrauded a company in a diesel scam
  • Concerns that the position of a former Nigerian President as a senior Tingo adviser was a front for money laundering
  • The creation of a completely fictitious airline which was supposed to be operating between West Africa and the UK by the end of 2019. Our investigations proved that the airline had no aircraft, no operating licences and that promotional photographs of its jets were faked
  • Proof that a Tingo platform which allowed UK residents to pay for private healthcare for Nigerian nationals in Africa was a charade
  • Evidence that Mmobuosi had forged an address to register one of his companies in the UK

Our investigation into Mmobuosi and Tingo was conducted three years ago and helped our client to avoid getting involved with the subject long before law enforcement agencies started to take a look at him. It is just one of a string of InsightX reports which have pre-dated later criminal investigations into companies and their principals, a list which includes the collapsed crypto exchange, FTX.

We are certain that our investigations go further and provide more valuable intelligence than those of any other provider, a conviction further reinforced by the media interest in Dozy Mmobuosi

Leading brands, clubs, agencies, rights holders and institutions trust us to guide their decisions when partnering with suppliers, considering player transfers, activating sponsorships, using endorsers and influencers and in mergers and acquisitions. If you would like to see how InsightX’s approach can help you make better decisions please get in touch.

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