EFCC Charges Man Over Alleged Investment Fraud of $8.4 Million and $3.6 Million

The Economic and Financial Crimes Commission (EFCC) has arraigned one Usie Otukpa Osang before Justice Obiora Egwuatu of the Federal High Court, Abuja for fraud.

A press release by the EFCC Media and Publicity Officer, Dele Oyewale, on Tuesday in Abuja, said the accused was arraigned on an eight court charge bordering on identity theft and obtaining by false pretenses amounting to A$8,427,330.83 (Eight Million Four Hundred and Twenty Seven Thousand Three Hundred Three Hundred Australian Dollars, Eighty Three Cents) and 3,639,462.00 American dollars. (Three million six hundred and thirty-nine thousand four hundred and sixty-two US dollars).

Court Three of the Indictment reads: “That you, Usie Otukpa Osang (alias Oscar Tyler and Ford Thompson) and others at liberty, between May 2021 and May 2022, at Abuja, within the jurisdiction of the Federal High Court, with intent to defraud, conspired with others at liberty to obtain the aggregate sum of AUD $8,427,330.83 (Eight Million, Four Hundred and Twenty-seven thousand three hundred and thirty Australian dollars, eighty-three cents) from Brian Jacques Creigh, an Australian citizen and managing director of an investment company Panacea Capital under the false pretense that Liquid Assets Group is a licensed online cryptocurrency trading and investment platform and offers a significant return on investments, which you knew to be false and therefore committed an offense contrary to Section 8(a) of the Advanced Fee Fraud Act and Other Fraud Related Offenses Act, 2006 and punishable under of article 1, paragraph 3, of the same law.

The sixth count reads: “That you, Usie Otukpa Osang (alias Oscar Tyler and Ford Thompson) and others generally, between the 14th of August and the 23rd of November 2021, in Abuja, within the jurisdiction of the Federal High Court, with intent to defraud, obtained a total of 19,806 BTC worth $1,079,313.00 (One Million Seventy-Nine Thousand Three Hundred and Thirteen Dollars Americans.) via the Binance wallet address: 16axdmS3aQUwFUwFUzHrSaozofuE3XY7bWaEw of Brian Jacques Creigh, an Australian citizen and CEO of an investment company Panacea Capital under the false pretense that the liquid asset group is a licensed online cryptocurrency trading and investment platform and offers a significant return on investments that you knew to be fake and therefore committed an offense contrary to Section 1(1) of the Advanced Fee Fraud Act and Other Fraud Related Offenses Act, 2006 and punishable under Section 1(3) of the same Act.”

He pleaded not guilty to all charges, prompting the prosecution lawyer, Christopher Mshelia, to ask the court for a trial date and remand the accused to Kuje Correctional Centre, Abuja, while the defense lawyer, KI Shuaibu, sought bail for the accused.

The court adjourned the matter to July 14, 2026 for hearing on the bail application and ordered that the accused be remanded in Kuje Correctional Centre.