Tingo Group Inc (TIOG)

[janice shell]

I'd missed this until just now: The president of Tingo, Inc (Agri-Fintech) is called Christopher Cleverly.

And he actually exists, He's a British barrister who's been described by The Times as a someone "who ... has skipped from venture to venture with little apparent success".

https://en.wikipedia.org/wiki/Chris_Cleverly

Hilariously, one of his areas of practice as an attorney is "Business Crime & Financial Services".

https://millenniumchambers.com/christopher-cleverly/



https://blockchainafrica.co/speaker/dr-christopher-cleverly/

He briefly talks about Tingo here:

https://www.facebook.com/TingoTribe/videos/tingo-inc-president-christopher-cleverly-speaks-on-how-tingo-mobile-is-promoting/816302232672244/?locale=ms_MY

Oddly, there's a much younger Christopher Cleverly in Dayton, Ohio. You can read all about his recent wedding here:

https://www.theknot.com/us/stephanie-anderson-and-christopher-cleverly-oct-2023

[Zorax]

Ever consider breeding Pugs for a living? Because pumping isn't working out for you.
Get any letters from the SEC yet?

[lucky, mydog]

yes, it was discussed yesterday. as the sec wrote,

The scope of the fraud is staggering.

[Zorax]

This been posted yet? How many 'told you so's' does this have?

https://www.sec.gov/litigation/litreleases/lr-25913

[downthehatch]

You got it--- they def should have won in the "Use of Storytelling/Communications" category!

[lucky, mydog]

wonderful timing.

[janice shell]

LOLOLOLOLOLISSIMO!!

Is it too late? Could we write to the people who made the awards?

[1manband]

They won the wrong award!

Tingo also received nominations in four other award categories, including Best Company in Food Security, Poverty Reduction, Stakeholder Engagement, and Use of Storytelling/Communications.

I demand a recount!

[janice shell]

Hilariously irrelevant "news" today:

https://ih.advfn.com/stock-market/NASDAQ/tingo-TIO/stock-news/92835779/tingo-group-wins-outstanding-new-entry-at-the

[janice shell]

My guess would be that Nasdaq never heard from them. Probably still hasn't.

[lucky, mydog]

bad link. try this...

https://www.sec.gov/files/litigation/complaints/2023/comp25913.pdf

[lucky, mydog]

so what do you have to say now?

[lucky, mydog]

very interesting reading.

https://www.sec.gov/files/litigation/complaints/2023/comp25912.pdf

[valleybenedetto]

Fantasyland 🤣🤣

[lucky, mydog]

almost, but not quite. there is still the matter of where and when the ticker trades.

[valleybenedetto]

Game, Set, Match

[lucky, mydog]

yup.

SEC Charges Tingo Mobile Founder, Three Companies with Massive Fraud and Seeks Emergency Relief

https://www.sec.gov/litigation/litreleases/lr-25913

The Securities and Exchange Commission today announced charges against Mmobuosi Odogwu Banye a/k/a Dozy Mmobuosi and three affiliated U.S.-based entities of which he is the CEO–Tingo Group Inc., Agri-Fintech Holdings Inc., and Tingo International Holdings Inc.–in connection with an alleged multi-year scheme to inflate the financial performance metrics of these companies and key operating subsidiaries to defraud investors worldwide. The SEC is seeking emergency relief to prevent Defendants’ continued dissemination of materially false information to investors and to protect corporate and investor assets.

The SEC’s complaint, filed on December 18, 2023, alleges that, since at least 2019, Mmobuosi spearheaded a scheme to fabricate financial statements and other documents of the three entities and their Nigerian operating subsidiaries, Tingo Mobile Limited and Tingo Foods PLC. The complaint further alleges that Mmobuosi made and caused the entities to make material misrepresentations about their business operations and financial success in press releases, periodic SEC filings, and other public statements. For instance, 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. In reality, those same bank accounts allegedly had a combined balance of less than $50 as of the end of fiscal year 2022. According to the SEC’s complaint, Defendants also fabricated the customer relationships that formed the basis of their purported businesses. The complaint alleges that Mmobuosi and the entities he controls have fraudulently obtained hundreds of millions in money or property through these schemes, and that Mmobuosi has siphoned off funds for his personal benefit, including purchases of luxury cars and travel on private jets, as well as an unsuccessful attempt to acquire an English Football Club Premier League team, among other things.

The SEC’s complaint, filed in U.S. District Court for the Southern District of New York, charges all four Defendants with violating the anti-fraud provisions of the federal securities laws and additionally charges Nasdaq-listed Tingo Group, OTC-traded Agri-Fintech, and Mmobuosi with reporting, books and records, and internal controls violations. It also charges Mmobuosi with lying to auditors, insider trading, and failing to file Forms 4 disclosing the sales of millions of Agri-Fintech common stock for which he was the ultimate beneficial owner. The complaint seeks permanent injunctive relief, disgorgement of ill-gotten gains and prejudgment interest, civil penalties, and the return, pursuant to Section 304 of the Sarbanes-Oxley Act, of bonuses and profits obtained by Mmobuosi from sales of Tingo Group or Agri-Fintech stock. The complaint also seeks an order prohibiting Mmobuosi from acting as an officer or director of a public company or from participating in the offering of any penny stock.

As part of the SEC’s emergency application, the SEC seeks an order to show cause and other temporary and preliminary relief against Defendants, including a temporary restraining order: (1) freezing Mmobuosi’s assets; (2) prohibiting TIH, Agri-Fintech and Tingo Group from transferring money or property or issuing shares to Mmobuosi; (3) enjoining Defendants from selling or otherwise disposing of their respective holding in Agri-Fintech and/or Tingo Group stock; (4) prohibiting Defendants and their agents from destroying, altering, or concealing records and documents; and (5) ordering Defendants to show cause why a preliminary injunction continuing the relief set forth in any temporary restraining order as well as ordering repatriation of proceeds and a sworn accounting should not be entered.

The SEC’s ongoing investigation is being conducted by Michael DiBattista, Christopher Mele, David Zetlin-Jones, Jeremy Brandt, Stephen Johnson, Elizabeth Baier, Gerald Gross, and Rebecca Reilly under the supervision of Tejal D. Shah, all of the SEC’s New York Regional Office. The litigation is being led by Mr. Zetlin-Jones, Mr. DiBattista, and Mr. Brandt. The SEC appreciates the assistance of Nasdaq’s Enforcement Department.

[lucky, mydog]

i wonder if tio ever answered nasdaq? and if they did, what is taking nasdaq so long to make a decision? they either resume trading or kick them off the exchange to otcm.

November 29 2023 - 08:20AM
The Company intends to make its response to Nasdaq’s information request within the next 3 to 4 business days and will fully cooperate with Nasdaq to assist them in completing their review as quickly as possible, with the goal of achieving the resumption of trading in the Company’s Securities at the earliest opportunity.

[lucky, mydog]

they very well could.

[valleybenedetto]

The SEC just alleged that Tingo fabricated all of its financials and virtually every aspect of its business.

Yet Deloitte gave Tingo a clean 2022 audit opinion. And 2 weeks ago was seeking ‘23 audit work.

Astonishing audit failure for a big 4 firm

DOJ will enter the fray...watch

[lucky, mydog]

the company could file for bankruptcy as a result of fines or imprisonment. but the doj can't "shut down" a company either.

[valleybenedetto]

DOJ will come in. Watch. It's over
..

[lucky, mydog]

the sec can only revoke a ticker for delinquency. tio is not delinquent.

[valleybenedetto]

This will never trade again. SEC will shut it down permanently. 100 pct fraud.

[zerohedge]

it will end up on OTC with scull and crossbones. there will be no market for the securities. this isn't conjecture it is a certainty.

[zerohedge]

Nobody is paid in cash - They have no cash!

Salary paid partly in NIS and partly in U.S. dollars. The amounts are converted according to the average foreign exchange rate U.S. dollar/NIS for 2022 and 2021, respectively.

[PugCap]

... did someone wake up on the wrong side of the bed this morning? Truly no need for that kind of conduct lucky. Here is an example of research I have contributed, thanks for the warm welcome.

In Q3 Tingo claimed 319m USD of agricultural exports to its neighbors (Niger, Chad, Benin and Cameroon). The newly released Q3 trade data from the Nigerian govt. shows all agricultural exports to Africa from Nigeria were 5.4m USD. @SECGov $TIO pic.twitter.com/EmEmPd4Qrh

— PugCap (@PugCap) December 4, 2023

[janice shell]

Nonsense. The SEC suspended trading for suspected fraud. The Nasdaq extended the suspension with its own trading halt, as it explained.

[lucky, mydog]

you are both welcome to return to the reddit or discord hole you crawled out of.

[PugCap]

How desperate are the trapped baggies that they are impersonating me, an outspoken critic, by posting moronic bullish takes under my name?

[lucky, mydog]

that is complete and total nonsense.

[PugDad]

Historically most T12 halts have been associated with mergers. The Nasdaq halt is 100% merger related. Bulls will have glory soon

[PugDad]

Historically most T12 halts have been associated with mergers. The Nasdaq halt is 100% merger related. Bulls will have glory soon

[PugCap]

Ugh why is this impersonator still at it? Halt has literally zero to do with the merger, this company is finished.

[lucky, mydog]

tio still halted.

https://www.nasdaqtrader.com/trader.aspx?id=TradeHalts

h-10 ...trading suspension.
t-1......news pending
t-12....additional information requested by nasdaq

[lucky, mydog]

What’s not to love?!?

the share price. the suspension. the delisting?

[lucky, mydog]

what you are more likely to see is nasdaq delisting tio for cause and then becoming a ce stock just like tmna.

[PugDad]

This week we should see the stock unhalt with the blessings of the SEC and Nasdaq merger finished and dividend on its way. Shorts will be destroyed 🚀🚀🚀

[PugDad]

This week we should see the stock unhalt with the blessings of the SEC and Nasdaq merger finished and dividend on its way. Shorts will be destroyed 🚀🚀🚀

[zerohedge]

I outed these guys long long long ago. Hindenburg was just another one.

[zerohedge]

Actually I was massively against this @#$!%#@!%$ long long long before Hindenburg.

[zerohedge]

There’s no way people could be wrong with 100% of their bullish predictions.

This was and remains one of the largest scams on NYSE/OTC and people should be jailed for their promotional activities.

Nigerian farmers “cell phone” Co-Op with “billions” in gross sales?

SCREAMING for a trade halt and jail for any executive in America.

[janice shell]

Yep. Saw that...

[lucky, mydog]

nasdaq halts after suspension expired.

[snow]

Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable, multi-national fintech, agri-fintech, food processing and commodity trading company, today announced it has received a request for information from The Nasdaq Stock Market (“Nasdaq”). While the temporary suspension of trading in the Company’s Securities imposed by the Securities & Exchange Commission on November 14, 2023 expired at 11:59 pm EST on November 28, 2023, Nasdaq have advised they will continue to keep the Company’s securities halted pending their review of the requested information.

The Company intends to make its response to Nasdaq’s information request within the next 3 to 4 business days and will fully cooperate with Nasdaq to assist them in completing their review as quickly as possible, with the goal of achieving the resumption of trading in the Company’s Securities at the earliest opportunity.

[MTH4]

In case you were not aware there were 2 SEC filings today from TIO that were posted on their website at links below. The first one is a proxy statement along with information about annual meeting on December 29 2023 and the second one is about a change to interim CFO for TIO and a sale of all Micronet Ltd shares.

https://www.tingogroup.com/sec-filings/all-sec-filings/content/0001213900-23-089885/0001213900-23-089885.pdf

https://www.tingogroup.com/sec-filings/all-sec-filings/content/0001213900-23-089876/0001213900-23-089876.pdf

[janice shell]

I think it's fair to assume they were just making shit up. Hindenburg did show that.

[zerohedge]

THE MERGER WAS NEVER GOING TO GO THROUGH. WHY DO YOU THINK THE CEO LEFT “TO SPEND TIME WITH FAMILY” VS SEEING THE STOCK GO TO $100??? HE HAD HIS SHARES AND GOT THEM HEDGED OR SOLD. THE SHARE ISSUANCE IS A COMPLETE FRAUD TO MORE CRIMINALS. RATS FLEEING SINKING SHIP - IN THIS CASE - ROWBOAT WITH HOLES IN THE BOTTOM.

[zerohedge]

HOW WERE WE SO WELL INFORMED?????

WELL - 7 YEARS IN CHINA FOR ONE -

THEY INVEST “BILLIONS” BUT ONLY IN NIGERIA WHERE 100% OD GROSS REVENUE IS RECICLED FOR “INVESTMENT”

HORSE-SH***T

https://www.sec.gov/ix?doc=/Archives/edgar/data/0000854800/000121390023087318/ea188185-8k_tingogroup.htm

SO MUCH MONEY WHERE DID IT GO?

Net Revenues for the 9 Months Ended September 30, 2023 Amounted to $2.41 Billion

Operating Profit for the 9 Months Ended September 30, 2023 Amounted to $492.5 Million and EBITDA1 for the 9 Months Amounted to $777.9 Million

Lease of 6 Million New Phones and Corresponding Customer Onboarding to Nwassa Platform Scheduled to Commence from December 2023

International Expansion Gaining Pace with Pilot Program Launch in Malawi and MOU Signed with Government of Pakistan for Nationwide Rollout

[zerohedge]

As earlier shown. There’s nothing there at all. Complete total fraud not one single point of truth.

https://www.sec.gov/ix?doc=/Archives/edgar/data/0000854800/000121390023087318/ea188185-8k_tingogroup.htm

Anyone long is WRONG -