The US Securities and Exchange Commission (SEC) has charged Nigerian businessman Dozy Mmobuosi and his three companies for accounting fraud and misrepresentation. The SEC alleges that Mmobuosi led a plot to fabricate financial reports of Tingo Group and its subsidiaries.
The charges were filed in the US District Court in New York.
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Nigerian music company Chocolate City faces equity loss to international partnerA leading Nigerian music company, Chocolate City, may lose as much as 60 per cent of its equity to an international partner, WEA International, a subsidiary of New York-based Warner Music Group (WMG). This is a fallout of a judgement of the Commercial Division of a High Court in London on a loan dispute between the parties.
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