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

Oct. 2, 2024 - SEC.gov

4531 / September 30, 2024Securities and Exchange Commission v. Olayinka Temitope Oyebola and Olayinka Oyebola & Co.

(Chartered Accountants), No. filed Sept.

30, 2024)SEC Charges Olayinka Oyebola and His Accounting Firm With Aiding and Abetting Massive FraudThe Securities and Exchange Commission today charged Olayinka Oyebola and his Public Company Accounting Oversight Board-registered accounting firm, Olayinka Oyebola & Co. (Chartered Accountants), with aiding and abetting a massive securities fraud perpetrated by Mmobuosi Odogwu Banye, also known as Dozy Mmobuosi, and three related U.

S. companies that Mmobuosi controlled (the Tingo entities).

The SEC recently obtained a $250 million final judgment against Mmobuosi and the Tingo entities. According to the SEC’s complaint, Oyebola and his firm’s assistance enabled Mmobuosi and the Tingo entities to carry out a multi-year scheme to inflate financial performance metrics and defraud investors worldwide.

The SEC also charged Oyebola with aiding and abetting Mmobuosi’s violation of the lying to auditors provisions of Exchange Act Rules 13b2-2(a) and (b)...