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A U.S court in Texas has sentenced two Nigerian founders of a fintech company to 27 months in prison for their role in sending $160 million in fraud earnings to Nigeria through their company, Ping Express U.S. LLC.
According to a statement by the US Department of Justice the firm acknowledged it failed to maintain an effective anti-money laundering and unlicensed money transmission programme over the last three years.
Ajeck Mangut reports from Abuja
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