London, UK – October 30, 2024 – Anthony Moore, an influential figure in finance, currently serving as chairman of Mamart (https://www.mamart.si/) and Launch Africa Ventures (https://www.launchafrica.vc/team), is now under intense scrutiny following allegations of criminal financial misconduct involving the sale of Tingo Inc. shares. These accusations, which include fraudulent share dealings, harassment, and abuse of shareholder funds, are raising significant concerns among investors, authorities, and Moore’s own associates.
Misuse of Shareholder Capital
Allegations against Moore primarily revolve around his time as Group Chairman of Tingo Inc., a role he held during which he purportedly encouraged minority shareholders to invest in Tingo shares, all while covertly offloading his own shares at a substantial discount. Documents from minority shareholders of Evrensel Capital Partners PLC (ECP) indicate that Moore used the capital intended for corporate investments to acquire approximately 2,000,000 Tingo shares under his personal ownership. This deceptive acquisition involved funds provided by ECP’s 78 minority shareholders who had placed their trust in Moore’s financial stewardship.
Evidence provided by Mr. Hari Iyer, one of the affected shareholders, includes banking transactions showing that Moore actively routed proceeds from these discounted share sales through Hadigy Limited to avoid direct scrutiny. Iyer, who claims he was misled by Moore, said, “Anthony Moore misappropriated funds meant for ECP investments, using them instead to acquire Tingo shares in his own name. He took advantage of his position, selling these shares at half their market price, and in the process, he directly harmed those he had pledged to support financially.”
Selling Tingo Shares at a 50% Discount
While Moore was publicly promoting the value of Tingo shares, he was offering brokers a 50% discount on those same shares behind closed doors. These discounted sales were made possible through Moore’s improper access to Tingo shares acquired using ECP shareholder funds. By offering such a substantial discount, Moore reportedly undermined the market valuation of Tingo shares and betrayed the trust of investors who believed in his vision for the company.
To facilitate these sales, Moore is alleged to have engaged with brokers who profited through a 50% commission, exploiting this “no-cost acquisition” of Tingo shares. Mr. Iyer, who has furnished documents supporting these claims, noted that Moore’s actions not only breached fiduciary duties but also constituted clear financial fraud, which could result in criminal charges.
SEC Investigation and Further Allegations of Misconduct
These allegations surface as part of a broader investigation by the U.S. Securities and Exchange Commission (SEC), which has already pursued legal action against several key figures within Tingo Inc. The SEC’s recent announcement on the matter (SEC press release 2023-254) outlines criminal charges filed against various executives of Tingo Inc., which has cast an ominous shadow over Moore’s business dealings. Industry experts speculate that Moore’s alleged role in financial misconduct could expose him to further legal ramifications and potentially even incarceration.
Harassment and Online Defamation
In addition to the financial impropriety allegations, Moore faces serious accusations of harassment and defamation. Mr. Iyer filed an official complaint with the Metropolitan Police, detailing numerous instances in which Moore reportedly engaged in a targeted campaign of online harassment. Iyer claims Moore used LinkedIn to post defamatory statements about him and his company, Hadigy Limited, in an effort to discredit and intimidate him. “Moore’s false accusations and slanderous remarks have caused me immense personal and financial harm,” Iyer stated. “He went beyond financial betrayal to personally attack me, impacting my health, my reputation, and my business relationships.”
Screenshots and other digital evidence of Moore’s LinkedIn posts have been submitted to the authorities, where they are currently under review as part of a larger investigation into Moore’s conduct.
Current Business Associations Raise Additional Questions
Despite these mounting allegations, Moore has recently taken on prominent roles with Mamart and Launch Africa Ventures. His new team at Launch Africa Ventures includes well-known industry figures such as Janade Du Plessis (LinkedIn profile), Zachariah George (LinkedIn profile), and Derek Randall. Derek Randall, who previously served as a director at Tingo, has also been linked to Evrensel Global Water, further intertwining Moore’s business network.
Given the serious nature of the allegations against Moore, his continued leadership positions within these companies have raised ethical questions about the corporate governance practices at Mamart and Launch Africa Ventures.
Legal and Financial Implications
The unfolding case against Moore has implications not only for Tingo Inc. but also for the investors and business associates who have been affected by his alleged misconduct. If these allegations are proven, Moore could face severe legal consequences, and the financial community may reassess its association with Mamart and Launch Africa Ventures. Authorities are expected to take a firm stance on such cases to uphold accountability and restore investor confidence.
In the coming weeks, both shareholders and regulatory bodies will be closely watching as the case progresses, with calls for transparency and accountability echoing throughout the financial industry.