FLASH FRAUDSTER
‘Fraudster’ with fleet of Rolls-Royces ‘looted £16m from businesses & tried to buy Sheffield United’ – before vanishing
Mmbouosi was also said to have splashed cash on bodyguards and private chefs
AN alleged 'fraudster' who owned a fleet of Rolls-Royces reportedly looted £16million from businesses and tried to buy Sheffield United before vanishing.
Dozy Mmobuosi, 45, disappeared after US authorities charged him with securities fraud, making false filings with the Securities and Exchange Commission (SEC), and conspiracy charges following an FBI investigation.
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Mmobuosi, whose real name is Odogwu Banye Mmobuosi, claims to have set up Tingo Mobile in the early 2000s, with the aim of helping farmers in rural Nigeria to maximise their yields and profits.
But Nigerian-born Dozy has been accused of "falsely representing" his companies Tingo Mobile and Tingo Foods, the indictment states.
And he vanished from his luxurious property in Eccleston Square, London, early last month, his neighbours told
US prosecutors in Manhattan unveiled criminal charges against Mmobuosi in early January, saying he lied to investors about his companies' finances.
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The alleged scheme occurred from 2019 to 2023, according to prosecutors.
They say Mmobuosi falsely represented that his Tingo Mobile cellular business and Tingo Foods agriculture business were profitable, generating hundreds of millions of dollars of revenue.
By 2019, Mmobuosi was stating that he had leased smartphones for a small fee to millions of customers.
As well as allegedly fleecing investors across the world, the SEC said that Mmobuosi is accused of “looting” at least £16 million from publicly listed companies to fund his lavish lifestyle.
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It said he used the money to buy his luxury cars, travel on private jets, and employed bodyguards and a personal chef.
He made payments of £343,000 and £378,000 to luxury car dealership HR Owen in 2022, the US court filings state.
Although it is not known what types of cars he purchased, but neighbours told he had Rolls-Royce Cullinan SUVs, a Rolls-Royce saloon and a Mercedes G-Class 4×4.
"They would have their engines running day and night and he would simply pay daily parking fines for each vehicle,” one resident said.
Mmobuosi was also touted as a potential saviour for Sheffield United and was linked to a £115 million takeover bid.
The African tycoon is also said to have pumped close to £9million into the Bramall Lane club to help the cash-strapped Blades fulfil their financial obligations.
The club were languishing in the Championship at the time but the deal ended up being aborted.
Mmobuosi agreed terms with Blades owner Prince Abdullah Bin Mosaad Bin Abdulaziz al-Saud, and said he had paid a deposit.
But the English Football League asked him and the club to answer further questions to enable it to decide whether to sanction the takeover.
Talks subsequently broke down between the Prince and Mmobuosi, who had previously shown interest in investing in Southampton FC and Crystal Palace.
According to , he also splashed out the cash on expensive parties at exclusive hotels such as the Dorchester - spending £800,000 there between May 2022 and February 2023 alone.
The court filings also state that he transferred large funds of money, via intermediates, from a Tingo Group account to an account in his own name at the London branch of Swiss private bank EFG.
The SEC’s civil claim says: “Mmobuosi created fake financial statements and forged supporting material to falsely portray Tingo Mobile as a thriving and profitable enterprise with hundreds of millions of annual revenue.
"In reality, throughout 2019, the company had no meaningful operations or customers and about $15 in its bank account.”
Mmobuosi is also alleged to owe tens of thousands of pounds in unpaid rent to landlords in both London and Hertfordshire.
However, Mmobuosi denies any wrongdoing.
In a statement issued to the African press last month, Mmobuosi said: “I wish to make it unequivocally clear that these allegations are unfounded and we are preparing to contest them to the full extent of our capacity.”
He added: “I am resident in the United Kingdom and cannot be said to be at large.”
Announcing the criminal indictment against Mmobuosi in New York last month, James Smith, an FBI assistant director, described the alleged fraud as “an unseemly display of greed and corruption of our financial markets”.
Mmobuosi, a married father of three, appointed Christopher Cleverly, a British barrister and cousin of James Cleverly, the home secretary, as a key business executive.
However, the lawyer appeared to indicate that he, too, may be a victim of the alleged fraud.
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“My contracts were never honoured and I’m still owed over a million dollars in salary and out-of-pocket expenses,” he said.
If Mmobuosi is still living in Britain and is extradited to stand trial in the US — where he faces up to 45 years in jail — James Cleverly would potentially have to sign off the order to have him transferred to America.”
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