Dozy Mmobuosi, the potential buyer of English football club Sheffield United, has been sued in the United States and the United Kingdom for failing to pay his debts.
Mmobuosi has recently emerged as a potential buyer of Sheffield United in the English Championship, which has been struggling to keep up with some of its financial commitments despite presently sitting in the second automatic promotion spot for a return to the riches of the Premier League.
The lawsuits
In a $300,000 Connecticut lawsuit, Mmobuosi was sued by one of his senior executives at Nigeria-based subsidiary Tingo Mobile for failing to pay him for at least half a year’s work. A year ago, Sukhdeep Bhogal launched a case against Mmobuosi in the United States. According to court documents, Bhogal, an Indian national, worked for Mmobuosi and helped the company in raising $400 million for a Tingo unit.
- Bhogal worked for Tingo companies “for more than six months but was paid almost no wages during that time, and was deprived of all other bonuses and equity promised to him at the start of his employment, representing hundreds of thousands of dollars of wage theft,” Jennie Woltz, his lawyer in the US suit said in a statement.
Meanwhile, in February 2022, a UK court ordered Tingo International Holdings Inc. to pay a British property firm £87,000 ($105,000) in unpaid rent to settle “damages for trespass” and “continued use and occupation” of a home he used as his private residence in the upmarket village of Radlett, northwest of London. In the US procedures, the Watford County Court order was used. Tingo eventually paid what was due by October, according to the Connecticut lawsuit.
Mmobuosi’s agri-focused fintech company Tingo Inc., which trades over the counter in the US, was down 16% on Friday, valuing the firm at $393 million.
About Dozy Mmobuosi
Dozy Mmobuosi is a technology entrepreneur and the Founder/CEO of Tingo, Inc., Africa’s top Agri-Fintech company and Tingo International Holdings, Inc. (TIH), an investment firm focused on finding and making strategic acquisitions in the technology sector.
He has a bachelor’s degree in Political science and a Master’s degree in Economics from Ambrose Alli University. He also has a doctorate in rural advancement from Universiti Putra Malaysia in Malaysia. Additionally, Dozy concluded his Advanced management & leadership study at Said Business school, University of Oxford, in 2022.
Dozy cofounded Tingo with his father in 2001, and he has worked vehemently to build the organization to be one of the top Agri-Fintech companies in Africa. He created Nwassa in 2019, which became Africa’s premier agricultural technology and digital platform. Nwassa aims to support farmers by providing access to weather forecasts, information on payment systems, market prices and conditions, and connections to other relevant service providers.
With the partnership between Nwassa and Tingopay, the two companies have collectively registered 14.7 million farmers and agri-businesses.
Dozy is credited with creating the first SMS Banking Solution in Nigeria, which was known as “Flashmecash.” This solution was later acquired by First City Monument Bank. He also made the Internet and smartphones more accessible to the local population by setting up two mobile phone assembly facilities in the country.
In case you missed it: Sheffield United was reportedly close to being bought out by Nigerian billionaire Dozy Mmobuosi in a deal worth £ 90 million.