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Businessman charged in ‘brazen’ scheme to inflate revenues, profits, cash balances

Sheffield United FC's stadium
Mmobousi made a bid to buy English soccer club Sheffield United. Photo: George Wood/Getty Images

The SEC’s complaint charges a businessman and three entities with ‘hoodwinking investors’ and violating anti-fraud provisions of US securities law.

The SEC announced it has instituted a temporary asset freeze and secured a restraining order and other emergency relief against Mmobuosi Odogwu Banye, aka Dozy Mmobuosi, and three affiliated US-based entities of which he is the CEO.

The order and relief are in connection with what the agency says was