EFCC arraigns man over multi-million dollar investment fraud
The Economic and Financial Crimes Commission (EFCC) has arraigned Usie Otukpa Osang before the Federal High Court in Abuja over an alleged investment fraud involving more than AUD$8.4 million and US$3.6 million.
Osang was arraigned on Monday before Justice Obiora Egwuatu on an eight-count charge bordering on conspiracy, obtaining by false pretence and impersonation.
*EFCC
Nkereuwem Effiong
The Economic and Financial Crimes Commission (EFCC) has arraigned Usie Otukpa Osang before the Federal High Court in Abuja over an alleged investment fraud involving more than AUD$8.4 million and US$3.6 million.
Osang was arraigned on Monday before Justice Obiora Egwuatu on an eight-count charge bordering on conspiracy, obtaining by false pretence and impersonation.
According to the EFCC, the defendant, who allegedly operated under the aliases “Oscar Tyler” and “Ford Thompson”, conspired with others still at large between May 2021 and May 2022 to defraud an Australian investor, Brian Jacques Creigh, Chief Executive Officer of Panacea Capital.
The Commission alleged that the suspect falsely presented Liquid Assets Group as a licensed online cryptocurrency trading and investment platform offering high returns on investment, thereby inducing the complainant to part with AUD$8,427,330.83 and US$3,639,462.
The EFCC further alleged that between 14 August and 23 November 2021, the defendant fraudulently obtained 19.806 Bitcoin, valued at US$1,079,313, from the complainant through a Binance wallet after making the same false representations.
The anti-graft agency said the alleged offences contravene provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Osang pleaded not guilty to all eight counts.
Following his plea, the prosecution counsel, Christopher Mshelia, asked the court to fix a date for trial and remand the defendant in the Kuje Correctional Centre pending trial. Defence counsel, K. I. Shuaibu, applied for his client’s bail.
Justice Egwuatu adjourned the case until 14 July 2026 for the hearing of the bail application and ordered that the defendant be remanded in the Kuje Correctional Centre, Abuja.
