The Downfall of Doctor Dozy!
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- Опубликовано: 28 дек 2023
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Dozy Mmobuosi, the founder and CEO of Tingo Mobile has been accused by US Regulators of running a "staggering fraud."
Tingo Mobile claimed to provide mobile phones to rural farmers in Nigeria and build a fintech super app. It quickly grew into a multibillion-dollar empire with a listing on New York’s Nasdaq stock exchange.
Dr Dozy, the London-based tycoon attempted to buy the Premier League football team Sheffield United but struggled to prove his financial resources.
It turns out that Mmobuosi’s businesses, as they were commonly understood, may never have existed.
The SEC has accused the Nigerian businessman Mmobuosi Odogwu Banye - of perpetrating an ongoing fraud of “staggering” proportions.
SEC Case against Dozy Mmobuosi, et al: www.sec.gov/litigation/litrel...
Hindenburg Report on Tingo Group: hindenburgresearch.com/tingo/
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The way your left hand moves reminds me of the tip of a cat's tail.
Bossy the bozo, just another crook that learned financial and tech lingo to believe their own bs.
Take a look at William storey - the bloke that sponsored haas f1 with his non existent energy drink
There seems to be a suprascammeer from Africa..
It's called elon musk. ( capital destructor by a thousand noses )
Have a happily droll new year, cheers from bustling Canberra Patrick.
I swear does forbes ever feature non sketchy people/scam artists. How does Forbes still have any credibility left
Wait, was he a Forbes person of the year? If so then he must be guilty. allegedly.
Lmao it's true
@@muhdiversity7409 Either guilty of fraud or a junior banker. As Patrick put it in an older video, if you're on Forbes 30 under 30 and you're not coming back from picking up your boss's coffee, you need to start booking your travel to a non-extradition country.
@@jennysittinger7888 I have to give him a pass, though. He has Disney vibes as he used words like "inclusion" "gender" and "diversity" How could he be evil ?
@@muhdiversity7409 it's really gotten so that you can just see who person of the year was & just assume that in 2-5 years there will be some amazing court case going on. i have no idea exactly when they went bad, i'm sure it's been at least a decade, but i don't know the actual timeline. i assume there was a head editor change & that person was trash.
allegedly
The Nigerian CEO scam. A new twist on a old classic.
This is what we live for 😂
Nigerian prince scam eat your heart out.
LOL
So, the old Nigerian prince scam is a 419. What number would you assign to this scam? I'd say 421, for obvious reasons.
Please keep your prejudice. Nigeria has a lot of legitimate businesses making the most impact across Africa. Blame your western media who do not cover real African companies doing real stuff but featuring fraudulent quick cash out schemes. That is your problem not ours. Tell your western faux journalists to learn how to do their jobs. Also no one refers to SBF scam as the ‘American CEO scam’ 🙄🙄 Cheers.
Watching Itchy Boots (Noraly from the Netherlands) riding her motorcycle from Morocco down the Atlantic coast of Africa to Nigeria, Cameroon, and beyond. It turns out that Cameroon just southeast of Nigeria actually has a sitting king descended from a long line of kings. And he hasn't tried to scam anyone. In fact he just opened a new museum based in part of his palace.
The most surprising part of this story is that Softbank was not investing into Tingo.
They weren't crazy enough for Softbank
actually, that is because they are already on the deal since a while, they even already paid the shipping fee for the 400 millions in gold bars.
Rip Credit Suisse, they would have been elbow deep in this
hahaha agree
@@lo2740😂
Tingo definitely has the $400 million in assets, but it is being held in gold bars by a Nigerian prince who emailed me asking for help getting it out of the country. We're on it.
Or $400 million in Zimbabwe currency.
Yooo 😂
Brilliant! Too good... you are indeed a scallywag sir...
😂😂😂
But first you mist send $4,000 to confirm your routing number. Then meet the container ship in the port next month.
At this point, I’m starting to believe Forbes is part of the “fake it ‘til you make it” train
House of cards / without the cards 🤪🙉
It's not doing the crime which is wrong -- it's getting caught which is wrong.
I stopped watching Forbes' RUclips channel when it became apparent that they had a decidedly rightwing slant. This just puts an exclamation mark on my conclusion.
@@stefanfrankel8157Realistically they're in the business of selling capitalism and it's accoutrements, it would be strange if they didn't lean right.
@@stefanfrankel8157 LOL! Integrated Whale Media Investments a chinese company owns Forbes.
As a Nigerian, I get so pissed at this con men that weaponize racism as a defense for their fraudulent behavior. “Perhaps if you were not Nigerian…”, how about perhaps if you had a legitimate business that could lead you to success, you would not meet roadblocks. Instead you chose to exhibit behaviors that keep us in suspicion in perpetuity. Not that I blame him alone, I wonder how hard it can be for wealthy investors to do their due diligence. You can go to Safari in Africa but you can’t pop down to Lagos for a quick meeting? ridiculous
Many international companies have tried doing business in Nigeria.
Most eventually face aggressive government regulation.
Business leaders learn from the mistakes others make.
Its a shame because Nigeria has massive potential.
It's philosophy.
Their entire worldview is skewed to nonsense.
Wealth comes from productivity. But "success" can cone from fraud up to a point.
I love you brother, I also know many people from nigeria at work who are honest and they always get mad when see media talking about Nigerian schemes.
I was going to point out you are victim blaming - but on a second thought I agree completely.
Anyone who lost money on their nigerian investments, is clearly too stupid to have a disposable income.
Well said!
I about crapped myself when he was talking about the claimed balance of $461 million vs the actual balance of $50: "...that would usually be considered a substantial discrepancy." AHAHAHAHHAH
He mentioned some regulatory disclosure documents were missing a zero off some figures... thats where seven of them went 😂
Lol me too
😂😂😂😂😂
Only "usually" considered but obviously not considered at all if an Israeli accounting company!
You're not looking at the bigger picture😂
How do I pull this off?
I've got the basics I've got £50 quid in the bank 😂
Nigerian media houses have been calling out this scam for years! Former employees even made twitter threads about it, it was a running joke on Nigerian twitter
Anybody that fell for this simply did not do their due diligence
Thank you o
I think the question is:
How did they ever get let onto the NASDAQ in the first place?
@kogiman
They didn't. They could not list directly, which is why they used a reverse merger.
@@sblijheid
Still.
How could they have been allowed to.
Reverse or not.
They got a ticker; didn't they?
I actually thought he was going to quote @DavidHundeyin, who had done this story some time back.
@@kogiman those reverse merger/spac things are definitely a loophole in what the SEC is specifically trying to prevent with normal stock listings. hopefully these types of shady listing tricks get shut down at some point.
A Nigerian scam? No way.
Nigerian scammers sold an airport that never existed… 😂
Explaining events with silly stereotypes is a sign of a lack of intelligence.
@@gbaski30 are you from Nigeria?
@@bestprice1776guess.
@@gbaski30 It's the truth. Most Nigerians are scammers. Now go away and Catfish some 70 year old woman out of her life savings posing as a 30 year old Navy Seal.
Words I never uttered to myself, I need to invest in a Nigerian company named Tingo run by a guy named Dozy.
😂😂🤣
😂😂😂😂😂 oops!
Only off of a sales pitch with no due diligence. These investors are brain dead I swear.
"As a company we do financial inclusion, as a company we do mobile, we do gender inclusion, we do food security [...]"
Well, that certainly clears things up. Where do I sign?
He hit all woke platitudes! Changing gender next ,I hope
you just send them your social security, bank account, pin number and your moms maidan name. and then just wait .... millions .. no .... Billions are coming your way
I would run as soon as I heard that
like seriously, from what they were saying i knew they were just scammers ...
@@drebubechiibegbula9704 I think I inherited large fortune from Nigeria,:)
This man will look us in the eye and give 10 minutes of well put together financial news/info and then just drop a huge sarcasm bomb and carry on like it didn't happen😂😂😂
"And you're NOT meant to do that" re: long-term deliberate fraud--man, I misread that whole situation so, so badly before he clarified it for me :D
It’s the greatest
His delivery is brilliant 😂 the sarcasm!!!I love it 😂
And that is Art
@@joelrasdall7662
Dozy ; You are NOT meant to do that? I didn't know 😂
Deloitte Israel; well that's alright then, you're signed off 😂
honestly it is impressive to the degree in which the man was able to sell the lie
Nigeria... no thanks.
The "business idea" is interesting but he got greedy. The way he went about his listing is "impressive". Israel, Thailand, China, US. Damn!!!
Tells you a lot about society
@@mbg9650I know it's terrible to tar a whole nation with the same brush but yeah.
.
@@stuartmorley6894 I wonder if Dr. Dozy is related to the Nigerian Prince we used to get emails from
You could say this whole scenario has been quite a doozy
Lmao
I audibly cackled. 😂
As basil brush used to say boom boom 💥💥
You got me good I laughed several times throughout the video but this comment right here made me guffaw
😂
If Hindenburg Research drops a paper on your Business, you know you’re in trouble. Shout out to Hindenburg for always bringing Scammy business to light.
Another scalp for their trophy wall.
And Finacial Times right a article on your business know you are in trouble
It was a pretty easy job. It was too obvious.
I've seen their big office in Accra Ghana and it's always empty or closed.
Short sellers do incredible research because their win depends on the truthfulness of the research.
Sure, it can be said that Hindenburg Research only does it because they have a financial incentive to as a shortselling firm, but as long as it does good, then they can target whatever scummy business they want.
The worst part is there are probably thousands of people in his country with good ideas and entrepreneurial spirit who will never get a chance to have their business come to fruition. This man squandered what few will ever have.
Playing the race card on this is so horrendous and deceitful.
Yes, there's at least 100 more Nigerian princes who never got the opportunity to hit the big time
Yeah, not so much. There’s a reason it’s a dumpster fire despite lots of oil.
@JohnSmith-op7ls go invest in the nigeria index etf then if you're so "sure". Just ignore the past returns.
eh Nigeria doesn't have a great rep
Why isn't anyone asking the real question: how did DeLoitte sign off on the financials? I didn't hear mention of any legitimate business whatsoever. So what did they audit?
I doubt Deloitte had any business dealings with Tingo. It is probably just another forgery.
The money going into their pockets was real enough
@@robsomethin4415 How do you know they performed an audit or were paid?
No one on this thread will shut up about that. But in any case, that's a matter for the PCAOB
Hardly surprising. These accounting firms have zero morals and are quick to write up favourable reports for the right fee.
Hindenburg Research’ most groundbreaking exposure to date continues to be the appalling lack of due diligence performed by major shareholders and investors.
show bobs and vageine
Never underestimate the son of a deceased Nigerian King.
The nerve of him to play the race card 🤦🏾♀️
when you're put into a corner, you swing with anything 😅
His nerve is the most impressive thing about him! 😂
Imagine being outsmarted by a football team, props to their finances manager, he does deserve it's title of finances expert unlike the rest.
They probably asked the hard questions: Like "can you show us proof of your financial resources?". One has to wonder what exactly Deloitte has done during their audit.
@@compuholic82
> Deloitte Israel
Explains a lot
@@Laotzu.Goldbug Does it? What do you mean?
Others are experts too...for their own pockets
@@vetreas366read between the lines
Dr Dozy's scam proves once again that greed supersedes caution at all levels.
Greed is the root of all evil, not money _per se._
@@stefanfrankel8157to be pedantic, the verse has never said that "money is the root" of vulnerable. it always says the _love of money_ is.
Surprised they didn't announce Tingo AI yet.
Exactly 💯😂
AI is the new scam slogan.
Any CEO from Nigeria that described a company to me the way he did would instantly raise a massive red flag with me. If you cannot explain your business in 60 seconds or less then there is a problem.
I don't need the description. The financials don't make sense. Not even US agricultural companies make that kind of money. $400 mln for a startup in a low income country? No way!
Whoever bought their shares deserves what they got.
@@sblijheid The biggest us agriculture company makes 32 billion a year in revenue vs the 400 million he claimed in revenue. 400 million isn't that much money, I don't know what is realistic for Nigeria though.
Nigeria is not US, agricultural products are very cheap. Most farmers don't have account or access to financial services. The real farmers are not even aware of this discussion because they don't exist online. I have first hand experience on it
The fact that someone could fail a fit and proper person test for English football is pretty impressive. The level of problems must have been ridiculous. They've let people buy clubs for £1 when they don't even have that £1. If investors couldn't spot that level of issue then that's incredibly worrying.
You won't believe the shit investor's buy, literally people bought a link for a picture with weird apes and it was all the rage.
@@HypermarketCommodity Amen to your comment ... enough said. 👍👍 What's that age-old saying? .... A fool and his money are soon parted.
The Hindenberg report was absolutely hilarious to read when it came out last year, I can’t believe it took as long as it has to finally end this!!
What an age of rampant fraud and idiocy we live in.
tRump 2024 and forever
I remember my father always telling me "son, if you ever have an opportunity to invest in an company that can make a quarterly commission that is 5x the total revenue of their entire customer base, you should jump right in, especially if it's run by a Nigerian prince *cough* sorry I meant doctor." Long story short I am now living under a bridge.
Well my father told me same except a certain Elizabeth Holmes etc
😂😂😂
None of this would have happened if Deloitte did their job. Shame.
Unbelievable!!!
Incompetence at the HIGHEST level. He knew his crap wouldn’t fly with the Nigerian branch of Deloitte, hence him using the Israeli branch.
@@devJOE-Manthis does raise the question why he intuitively knew that the Israeli office would be much more amenable to fraud...
The auditor prolly got a fat paycheck that time
Everyone knows that if you want a real in depth financial audit of a company you hire the British Football League, not Deloitte.
Is that an app to have Nigerian scams directly on your smartphone? This was a great idea.
This is a perfect example of why, although disliked by most, short sellers are needed. Just like periodic recessions are necessary to weed out uncomperive businesses and keep the economy heallthy, short sellers are needed to off the fraudlent and zombie companies.
The only problem I have with short selling is when proof of fraud is kept private while short positions are established, only to drop the bomb. I agree with research and speculation based upon publicly available data.
@@PsRohrbaugh informational symetry ... Aah, that would be a dream.
This is just a great example of how financial regulators regularly just sign off on anything reported and shuffle it down the line. It seems like more often than not it's whistleblowers or activist short sellers exposing these companies.
Or the companies collapse, and _then_ the regulators leap into action.
It's not the financial regulators that are at fault here, if anyone's to blame, it's the auditors.
its all about ESG, financial inclusion for rural africans is just to good to not invest in right....
@@BobfromSydney they both share in the blame as the regulators are the ones who allow very vague BS laws to facilitate this but you are correct it's the auditors who let the most stuff slip by unchecked. At the end of the day it's on the company committing the fraud but it's crazy we have regulators and auditors who don't actually live up to the job title.
It's called 'regulatory capture', ie, they're in on the scam and get rewarded for the part they played in deceiving the public. Sophisticated corruption.
Looks like the Nigerian prince has really moved up in the world of digital money transfers.
😂😂😂
So crazy! Playing the race card!
And of course he's got a Forbes cover!
😂🤣😂
When you hear Dubai and Nigeria in one sentence, that’s a red flag.
The gold medal for scam goes to Nigeria .
This sounds like serious problems Dozy is dealing with but I do have a question: Did he ever dress as a sultry Wood Nymph?
Sultry Wood Nymphs as all of us know take security REALLY seriously!
😭😭😭😭 Yes. We need answers to questions that really matter
And they dont really need to know any math to do it too!
My dream would be Dozys audiobook with Patrick’s narration
I am surprised that I can still be surprised at how poorly investors research companies before putting them money.
I agree but I’m guilty. Also to a fake agro company in Nigeria 😮😢 I still can’t believe it too! The company vanished off the face of the earth and took my money with them!
not gonna lie, when i see stories like these, it reminds me not to feel too badly about myself for being in my mid 20s and still working out how to bring in good, legit, consistent money off my skills and talents. like if people are doing all of this to SCAM, that lets me know that building a good life for yourself is no cake walk when you're coming from a working class background, and that it takes consistency, commitment, dedication and TIME. jeez this is nuts
Keep going 💪 honesty pays
Don't stop pursuing your goals👍✨✨👍✨
Geez I'm having cold sweats and can't sleep at night if I think I didn't pay a minor bill on time... how the hell are these scammers able to live with themselves?? 🙃
Scrupulosity, honesty, and high social trust, especially on a consistent basis, is in fact not a feature of the vast majority of people on earth, and as a group tendency only exists in very specific nations and peoples.
Very few scammers are women, so if you are a man, this would be hypocritical. If you don't think men are the most unscrupulous group of people alive, then you are lying@@Laotzu.Goldbug
Playing the racist card to argue why his company is more worth, love it!
The race card is only effective because racism exists.
He's shameless so of course he plays every card.
Is your specific problem that he played it or the card exists?
That's what you get for pandering
BLM proved that woke branded scams are very effective and get little scrutiny once you start calling anyone criticising you rayciss
Kudos for the Nigerian tax investigators and others who were first to out this scammer!
Pretty ironic considering he added fuel to the fire for why people shouldn't do business wit Africans 🤦
The real story here for me is the failure of Deloitte. " You had one job, man. ONE job". 🤦
Most audits are being performed remotely. This scam wouldn’t have been possible if auditors properly performed their job. Speaking as a former auditor here
Is it likely than that that's why he chose the Israeli office, since the Nigerian one would have had a much stronger likelihood of actually coming down in person?
That's not likely - it's definite, but not the slightest excuse for the auditors.
I just looked it up: Deloitte Nigeria states it has 600 employees and was originally founded in 1952.
@@IceAce1
He didn't use Deloitte Nigeria tho...
@@PointsofData exactly
The dry delivery is just wonderful. Thanks for all your content Patrick.
He must be straight out laughing at how he got the money. "I just paid deloitte israel to fake an audit, got in the US stock exchange saying "we got a fintech company running in Nigeria distributing phones and banking, we're making hundreds of millions bro" and actually got hundreds of millions in investments, nobody even asked"
SEC can be easily scammed
Who said bribery is involved? Don't make felony allegations lightly
@@syedzaharudinsyedzainoldin3047found the guy cheating on his wife
I think there is a large body of work in looking at companies that fail as frauds and then investigating the auditing firm that had just previously given the company books the gold stamp of approval. Some of the auditors really need to have their ears pinned back.
Let's overlook the rhyming name Dozy "Mbozy" and instead talk about the fact that tingo is an Easter Island word for someone who takes everything from someone's house by borrowing them and never returning them. You can read about this in the book The Meaning of Tingo: And Other Extraordinary Words from Around the World by Adam Jacot de Boinod. A fun read.
Fun fact about Easter Island...nobody there celebrates Easter. Same for the Virgin Islands...nobody there celebrates Easter, either.
The hilarious fact is..despite he's a fraudulent Doctor...you still call him a doctor the whole video 😂
Is Doctor Dre a real doctor?
@@Muhluri Or Dоctor Who, Doctor No, etc.?
I hear him saying Doctor with quotation marks around it
It's just a moniker
@@Muhluri As Warren G once said:
Regulators
We regulate any stealin' of his property
We're damn good too
But you can't be any geek off the street
Gotta be handy with the steel
If you know what I mean, earn your keep
(Regulators, mount up)
Something actual regulators should start doing, as in regulate. LoL
Oh the irony of Dozy whining that he's not trusted because he's black/African while adding another huge brick to that wall! I thought Elizabeth Holmes and Theranos were epic but this guy is on another level!! Thank-you for educating me in 2023 Patrick - I really appreciate all your hard work, these videos must take hours! All the best to you and your family for 2024. Cheers from Oz!
At the same time, it's kind of sad how people like Dozy confirm prejudices against people of color/Nigerians/Africans, making sure any attempts at emancipation have been set back by another 10 years.
@@stephans1990there’s more white scammers crashing entire economies so how come whites don’t get hit with stereotypes when they do stuff like this?
@@stephans1990Ok, bigot. Does Bernie Madoff, Elizabeth Holmes, Enron Management , Sam Bankman-Fried etc represent other members of their race?😂
@@maltlickytexashow antisemetic of you to suggest that
100% agree! It's VERY sad, and you have to judge people for who they are but, honestly, I do find stereotypes are often correct because the behavior they attribute are often part of that society's culture, education (formal and informal), morals, expectations and survival strategies. @@stephans1990
Hang on, Cleverly's cousin is a lawyer specialising in White Collar Crime.......and became Dr Dozy's Company President? Disbar him!
It’s great to meet another aficionado of modernist avant-garde religious fiction. Thanks for the heads-up on Dozy’s work, I’ve just ordered my copy of _Lucifer Gate._
I bet he very soon will have doubled his net worth from book-sales...;-)
lol - when he selected the option saying the book is offensive. 😂
Offenses against the English language, I'd imagine!
@@PeteC62 Yep, that was my take on it.
😂I almost got a migraine just reading a few lines😅
@@davianoinglesias5030 I might have to give the books out as a white elephant gift. 🤔
What an end of year gem. Thanks for all the talks / videos through the year Patrick. Looking forward to 2024. You may need to make new top ten frauds list I fear.
Kudos for the thorough research and for including the book description. A laugh a day keeps the doctor away - thank you contributing to our health!
I feel like if I wrote a financial “thriller” and named the antagonist Dozy MooBozy I would be told I’m a horrid racist😅
This is better than any stand up comedy 😂😂😂😂
Rio Ferdinand on the telly in the background, waiting for an interview. Absolutely no problem there, every genuine tech genius needs a thick centre back.
Doc Dozy is sure a real doozy.
Malaysia is a nexus for Nigerian scammers that are evading IP range bans in Nigeria so it would make sense that he spent time there. I just watched a video about a scammer named Hushpuppi that mentions Malaysia
I just love the name Hindenburg Research. As far as names for shortsellers are concerned, it's pretty close to perfect ❤
Oh, damn, I just got that. It must be late.
A twist on the old Nigerian Prince con?
Why are you doing this? 😅
I was hoping to see at least a passing princely mention. Much obliged.
Why are you runnon!
NIGERIAN PRINCES are not as many as you may expect...
One Scammer could send over 10000 e-mails, they got a specific software for that😂
My ribs now hurt. Thanks Patrick.
A Nigerian scammer???? It can't be true 😂😂😂
Ya hate to stereotype but..
@@mcspikesky Yeah, American scammers, anyone? Bernie Madoff, Elizabeth Holmes, Enron Management, Sam Bankman-Fried etc, anyone?
@@maltlickytexasGrant Cardone
Do investors not do any due diligence at all? How hard is it to look up a patent or make a phone call or pay some Nigerian local to take a video?
I love these types of videos. The dry, sarcastic humor is unrivaled! Keep it up!
The level of fraud doesn’t concern me quite as much as how easy it was to perpetrate. How many other fraudsters, of varying degrees, are there on any given exchange?
"...but it appears to be modernist, avant-garde religious fiction which is, of course, my favorite genre."
😂 I think I just died of sarcasm 😂
The Amazon complaint was hilarious 👏🏾👏🏾👏🏾
😬yikes...👏🏾per usual: phenomenal work, Mr Boyle... shoutout Ground news...😊
Always amazing videos, Patrick. Thanks for keeping us both informed and
entertained this past year. 🎉
Your work is stellar. I learn so much from you and yet, find myself cracking up so hard at these videos. I have never heard of Dr. Dozy until now. Now I won't forget him. Thank you again kind sir 👍🏽
You are the only channel, show anything I actually look forward to seeing.
Patrick's very dry haha
As a Nigerian, I need to study Dozy Mmuobosi so I can do it but do it right !!!
Excellent presentation. Much appreciate the work you do. Thank you.
He pulled the race card🤦🏻♂️
Yep
Cringed hard when he did that.
Ahh, he used the magic "inclusion" words.
22:25 I can't believe he played that card. He just said anyone who doesn't believe him is racist. Oh boy...
I hate when fraudsters use the Black Card when it utmost inappropriate!
This is comedy gold! 😂
Pure Gold. 😂
This has to be made into a comedy TV series
The most fascinating thing about your channel is for me how much it pays off to actively listen. You have a quiet but lethal way of delivering the punchline :D
Yes, focus is a precious commodity today.
Dr Dozy. Even his name is taking the piss!!
Soooo. Deloitte is hiring the worst accountants ever?
When I saw Elon, the prince from south Africa I bursted out laughing 😂
It was the best sight gag of the video.
Patrick's Elon cameos are the best
Nigerians are known for their honesty and integrity, Dr. Dozy is very rare among Nigerians. I have never heard of a Nigerian scammer.
Lmao
Unironicly, every Nigerian I have meet is very nice. Granted these were people that had moved out of Nigeria and almost all of them were from Lagos.
To be fair they take the bronze. Indians takes the silver and Israelis takes the gold. This is just my experience
@@Mr-pn2eh Americans are known for their honesty and integrity. Besides Bernie Madoff, Elizabeth Holmes, Enron Management , Sam Bankman-Fried etc, I have never heard of an American scammer.😂
😂
The SEC and FDA please don't forget the Food and Drug Administration.
Exceptional analysis as always, Patrick. Nobody asked why they hadn’t met any farmers? Why a Nigerian startup was being audited by an Israeli firm when every major global auditor has offices in Nigeria and broadly in Africa? Why the UK Home Secretary’s cousin (a barrister who focuses in white collar crime, conveniently) was somehow the chairman of a company whose operations he could never explain? More people were in on this fraud than will be prosecuted.
This man is so accomplished he should be a prince
But they sounded like they lived this businesss. “We do mobile.” Thats all the due diligence needed…no? Okay, insert keyword: “fin tech.” I’m sold
The guy's Nigerian.
HELLO!
Thanks Patrick for 2023. Your channel brings me 500% enjoyment.
22:41 I just had to go check out the article. I especially liked the mix of accusing people of racism and then throwing in some irrelevant detail that strongly reeks of antisemitism in: "The instigator of this unwanted hatred is the founder of the Hindenburg Report, Nathan Anderson, a Jewish Wall Street insider"
Fake financial statements and forged documents are illegal? Whaaaat!!! Well there goes my entire Dr. Jeff business plan!
I always ask when I see stories like this , "what's the end game?" Do the fraudsters think no one would find out. The crazy thing is that there are legit startups out there that can't get funding, but the fakes keeps getting paid. The world is unfair. These guys keeps making life difficult for the majority of legit startups in Nigeria actually doing some good.
All this for a flashy lifestyle 😊
The Amazon book review. Wonderful!
How did he pass the audit ?
It is Deloitte!!!!!!
No surprise!
Thank you Patrick! For those interested in staying informed, check out the link above and tell us what you think.
On your platform you should add coverage of RUclipsrs, hah.
Ground news is awesome. Every time I see some bs RUclips video on some serious news I can just go to the app and check the claims validity for free. It’s the only time I’ve checked out a sponsorship but it’s definitely a public good.
Thank you for sponsoring Patrick!
I begged for this video! Thank you Mr. Boyle!
2:26 : he said "that would usually be considered a considerable discrepancy" with a straight face XDDDDDD