The Economic and Financial Crimes Commission (EFCC) has arraigned an Abuja-based man, Usie Otukpa Osang, before the Federal High Court in Abuja over an alleged multi-million-dollar investment fraud involving Australian and United States currencies.Osang appeared before Justice Obiora Egwuatu on Monday, June 29, 2026, to face an eight-count charge bordering on impersonation, conspiracy and obtaining money by false pretence.
According to the EFCC, the defendant allegedly defrauded an Australian investor of AUD$8,427,330.83 and US$3,639,462 through a purported cryptocurrency investment scheme.
The anti-graft agency told the court that between May 2021 and May 2022, Osang, who allegedly operated under the aliases “Oscar Tyler” and “Ford Thompson,” conspired with others still at large to deceive Brian Jacques Creigh, an Australian citizen and Chief Executive Officer of investment firm Panacea Capital.
The prosecution alleged that the victim was convinced to invest after being told that Liquid Assets Group was a licensed online cryptocurrency trading and investment platform capable of generating substantial returns. The EFCC maintained that the representation was false and was intended to fraudulently obtain the funds.
In another count, the commission alleged that between August 14 and November 23, 2021, the defendant obtained 19.806 Bitcoin, valued at about US$1,079,313, from the same complainant through a Binance wallet linked to the scheme.
The EFCC said the alleged offences contravened provisions of the Advanced Fee Fraud and Other Fraud Related Offences Act, 2006.
When the charges were read, Osang pleaded not guilty.
Following his plea, prosecuting counsel Christopher Mshelia asked the court to fix a date for trial and order the defendant’s remand at the Kuje Correctional Centre. Defence counsel K.I. Shuaibu, however, urged the court to admit his client to bail.
Justice Egwuatu adjourned the matter until July 14, 2026, for the hearing of the bail application and ordered that the defendant be remanded at the Kuje Correctional Centre pending further proceedings.
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