Securities Enforcement Empirical Database (SEED)

Defendant Name: Mmobuosi Odogwu Banye

Defendant Type: Individual

Initial Case Details

Legal Case Name SEC v. Mmobuosi Odogwu Banye (a/k/a Dozy Mmobuosi), Tingo Group, Inc., Agri-Fintech Holdings, Inc. (f/k/a Tingo Inc.), and Tingo International Holdings, Inc.

First Document Date 18-Dec-2023

Initial Filing Format Civil Proceeding

Case Number 23-cv-10928

Allegation Type Issuer Reporting and Disclosure

Federal District Court New York, Southern District of New York

Affiliations

Current: CEO at Tingo Group, Inc.
Current: CEO at Agri-Fintech Holdings, Inc.
Current: CEO at Tingo International Holdings, Inc.

Violations Alleged

Exchange Act

• Sec 10(b) + Rule 10b-5

• Rule 13a-14

• Sec 13(b)(5)

Securities Act

• Sec 17(a) (Not specified)

Other

• Sec 304(a) Sarbanes-Oxley Act

• Rules 13b2-1, 13b2-2 Exchange Act

Related Violations Alleged

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo Group, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Agri-Fintech Holdings, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo International Holdings, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have controlled Tingo Group, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have controlled Agri-Fintech Holdings, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have controlled Tingo International Holdings, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo Group, Inc.'s violation of Rule 12b-20 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Agri-Fintech Holdings, Inc.'s violation of Rule 12b-20 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted an unidentified individual or entity's violation of Rule 12b-20 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo Group, Inc.'s violation of Sec 13(a) of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Agri-Fintech Holdings, Inc.'s violation of Sec 13(a) of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted an unidentified individual or entity's violation of Sec 13(a) of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo Group, Inc.'s violation of Rule 13a-1 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Agri-Fintech Holdings, Inc.'s violation of Rule 13a-1 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted an unidentified individual or entity's violation of Rule 13a-1 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo Group, Inc.'s violation of Rule 13a-11 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Agri-Fintech Holdings, Inc.'s violation of Rule 13a-11 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted an unidentified individual or entity's violation of Rule 13a-11 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo Group, Inc.'s violation of Rule 13a-13 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Agri-Fintech Holdings, Inc.'s violation of Rule 13a-13 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted an unidentified individual or entity's violation of Rule 13a-13 of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo Group, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Agri-Fintech Holdings, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted an unidentified individual or entity's violation of Sec 13(b)(2)(A) of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo Group, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Agri-Fintech Holdings, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted an unidentified individual or entity's violation of Sec 13(b)(2)(B) of the Exchange Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo Group, Inc.'s violation of Sec 17(a) (Not specified) of the Securities Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Agri-Fintech Holdings, Inc.'s violation of Sec 17(a) (Not specified) of the Securities Act.

Mmobuosi Odogwu Banye is alleged to have aided and abetted Tingo International Holdings, Inc.'s violation of Sec 17(a) (Not specified) of the Securities Act.

Resolutions

Bars:

Bar from acting as Director or Officer of a public company (of unspecified duration)
Bar from participating in any penny stock offering (of permanent duration)
Bar "from participating in the issuance, purchase, offer or sale of any security or engaging in activities for purposes of inducing or attempting to induce the purchase or sale of any security." (of permanent duration)

First Resolution Date 28-Aug-2024

Headline Total Penalty and Disgorgement $61,574,143

Other Defendants in Action:

Tingo Group, Inc.

Agri-Fintech Holdings, Inc.

Tingo International Holdings, Inc.

Related Actions:

SEC v. Olayinka Temitope Oyebola and Olayinka Oyebola & Co. (Chartered Accountants)

Olayinka Temitope Oyebola

Olayinka Oyebola & Co. (Chartered Accountants)