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.... Ok? Thank you oh wise one?
Are you speaking to transactions after Tingo merged with MICT? There were a lot of shady deals like Tingo with BTOW and TingoTV ( OTTV). Many, many deals announced but so few that actually went through
Are you talking to yourself? My tweets exposing the Tingo fraud had 10s of thousands of views, I can only assume your incredibly detailed iHub posts were read by at least 10 people. Go on then, keep saving the world one iHub post at a time.
The only reason there was any bid was because of short covering. Once All funds are done selling this will go much lower.
Why not post it in a place where eyeballs will actually see it?
So maybe don't victory lap that you called out a scam on an entirely unserious investing website? No offense to iHub
Yeah not sure how many turn to iHub for investment advice...
I'm still proud that Downthehatch removed "exposing lying CEOs" from their bio
Downthehatch was defending this scam!
Now the DoJ complaint
Founder And Former CEO Of Tingo Companies Charged With Securities Fraud
Ha, unfortunately I think that money is long gone. He spend like 8m dollars on wages for Sheffield United, 800k on his parties at the Dorchester Hotel, 125k to Akon, I forget how much he spent on luxury cars... list goes on
Dozy made an account with EFG Bank in Switzerland where he sold at least 10m shares of TMNA. RBC flagged the suspicious trading.
If you look at some of the exhibits on PACER, they did work extremely hard to make reviewing the business exceptionally difficult for the auditors, for example they claimed that because of the election they couldn't physically go into the Lagos office for much of the time that the auditors were in Nigeria to complete the work. Don't get me wrong Deloitte Israel 100% dropped the ball here massively but it's bizarre that given how combative the Tingo people were being during the audit, the red flags didn't raise more of an alarm.
C'mon fellow goobers, let's take down that ask wall! Best thing is from reading the SEC complaint is they were buying shares directly from Dozy Mmobuosi himself!
Yeah we should listen to the iHub moderators like you who think they are scam detectives but couldn't spot this one
DTH thinks that they have particular talent of uncovering that certain 5m market cap OTC listed securities that trade 500 dollars of volume per day are scams.
Why yes, yes as I matter of fact I do. BTW I love that you removed "exposing lying CEOs" from your iHub bio after massively dropping the ball here.
"taking the shares from weak hands" ROFL
I think the TMNA BoD was just so strung along that the merger with MICT/TIO was going to go through and their 10s of millions of shares were going to make them mega rich
He is also suing Dozy claiming he was not paid the entire time he was on the board.
The best part of the awards was that Tingo got to pick the 5 categories they were nominated for. "Fill the relevant sections providing required information. And the select the award categories your organization is applying for (each entry permits you to apply for 5 award categories. If you wish to enter for more than 5, you would require an extra application)."
So I find the choices they picked rather... tongue in cheek. Their entries were pretty funny too, their entry for Tingo Mobile, Tingo Mobile Fund for Female Farmers lost to... International Breweries Kickstart Entrepreneurship Initiative.
There's a trial ongoing, Bhogal v TIH where Dozy's lawyers are arguing that since he's Nigerian the laws of the United States don't apply to him. Interesting legal defense. Dozy spends all his time in the UK though, will be interesting if they cooperate on extradition.
Seemed like a big oversight to assume the SEC would never subpoena your bank records.
I use the monikers PugDad and PugCap on other stock forums and Twitter. I've been a very outspoken about the fraud going on at Tingo for the past 8 or so months. Someone salty decided to create an account under the name PugDad on here and make bullish posts.
Bud you are replying to a user who is impersonating me.
The complaint has a long paper trail of where Dozy sold stock, including a Swiss bank account. Wonder how much they'll be able to recover.
... 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
How desperate are the trapped baggies that they are impersonating me, an outspoken critic, by posting moronic bullish takes under my name?
Ugh why is this impersonator still at it? Halt has literally zero to do with the merger, this company is finished.
Technically the SEC suspension ended, that is why.
Good thing @downthehatch was here "Exposing lying CEO's" ... sike!
TMNA is completely worthless, sorry to say.
TMNA filed an NT 10-Q this afternoon as well
Oh please tell us how being connected to British Parliament has any bearing on whether their business is real or not?
Quit embarrassing yourself DT
That is really just too bad. Maybe Dawg Trading should have listened when they learned via reddit that Tingo was fraudulent over a year ago
https://www.reddit.com/r/Nigeria/comments/va9xg1/tingo_mobile_and_nwassa_looking_for_info_willing/
Don't worry guys, according to @downthehatch bio they are here to "Exposing lying CEO's"
Instead they moderate the Tingo Inc iHub forum! What a guy!
Would you look at that, TMNA just got collateral called by their lender and were forced to sell 2m shares of TIO
"1. Represents involuntary sale due to foreclosure against shares of TIO pledged as collateral for a short-term loan."
Questions for Tingo Management
In Q2 Tingo claimed to complete 348m USD in “overland exports to neighboring countries in Africa”. Trade data from the National Bureau of Statistics show overland exports of 45m USD in the quarter and 185m over the past 12 months. That same dataset shows that total agricultural exports in May 2023 was 3.8m USD and 17m USD for the quarter. How do you explain the discrepancy?
Tingo claimed that Nwassa USSD platform had 12B in transaction value in FY2022. The data from the Central Bank of Nigeria shows that the sum total of transactional value for all USSD was roughly 10B. In addition, Tingo claims 8m daily USSD transactions, annualized to roughly 2.9B transactions. The data shows a total of 516m USSD transactions for all providers. What is the cause of this discrepancy?
“During the quarter ended June 30, 2022, we received an advance of $89.2 million from affiliates of our founder and CEO, Dozy Mmobuosi, to satisfy short-term capital needs of Tingo Mobile, our wholly-owned operating subsidiary. As of September 30, 2022, the balance on this advance was $85.6 million. We expect to repay some or all of this advance later in 2022.”
Who was the provider of this 89m USD loan? What is the status of this loan?
Tingo has claimed to have invested ~200m USD into “cell on wheels” infrastructure in Nigeria. What was the source of that funding? Who operates these devices? Are they shared with other telecom companies? How does this work when Tingo does not have a cellular network?
According to the SEC of Nigeria, Prime Commodity Exchange conducted no trading activity in the past 12 months. How can Prime Commodity Exchange possess “leading-edge Electronic Warehouse Receipt System” if they have no trading operations?
What is the status of Tingo’s internal investigation into Dozy Mmobuosi? When was the last time that Dozy set foot in Nigeria?
Tingo Mobile PLC and Tingo Foods PLC are listed as exporters with the Nigerian Export Promotion Council. Why do customs records for land, sea and air show no exports from either of these entities?
What is the name of the 3rd party vendor that facilities your cell network, since you now claim you have nothing to do with Airtel?
What are the models of the millions of phones your company has distributed?
Given that people pass away, change cell phone providers, decide they don’t want a phone for any number of reasons, how did your company maintain a static 9,344,000 mobile subscribers for so many years?
Tingo previously stated the point of the export business was to “dollarize” revenue. Given the completion of these multiple export deals to neighboring countries in Africa to the tune of 348m USD, why does Tingo need to apply to convert 20m USD worth of Naira to pay a dividend?
Who is the manufacturer of Tingo’s smartphones?
Why is Tingo Ghana still not operational, despite throwing a grand opening party nearly a year ago?