The Economic and Financial Crimes Commission (EFCC) has arraigned Usie Otukpa Osang before the Federal High Court in Abuja over an alleged multi-million-dollar investment fraud involving cryptocurrency.
Osang was brought before Justice Obiora Egwuatu on Monday, June 29, 2026, on an eight-count charge bordering on impersonation and obtaining by false pretence.
The anti-graft agency alleged that the defendant fraudulently obtained AUD$8,427,330.83 and US$3,639,462 from unsuspecting victims through a fake cryptocurrency investment scheme.
According to the EFCC, Osang allegedly operated under the aliases “Oscar Tyler” and “Ford Thompson” and, alongside others still at large, deceived an Australian investor, Brian Jacques Creigh, into investing in what was presented as a legitimate online cryptocurrency trading platform known as Liquid Assets Group.
The commission alleged that between May 2021 and May 2022, the defendant conspired with others to obtain AUD$8,427,330.83 from Creigh, the Chief Executive Officer of Australian investment firm Panacea Capital, by falsely claiming that Liquid Assets Group was a licensed cryptocurrency trading and investment platform capable of delivering substantial returns on investment.
The EFCC further alleged that between August 14 and November 23, 2021, Osang and his accomplices fraudulently obtained 19.806 Bitcoin, valued at $1,079,313, from the same victim through a Binance wallet address under the same false representation.
The commission said the alleged offences contravene provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
When the charges were read in court, Osang pleaded not guilty.
Following his plea, prosecution counsel, Christopher Mshelia, urged the court to fix a date for trial and order the defendant’s remand at the Kuje Correctional Centre pending the determination of the case.
Defence counsel, K.I. Shuaibu, however, applied for his client’s bail.
Justice Egwuatu adjourned the matter until July 14, 2026, for the hearing of the bail application and ordered that the defendant be remanded in the Kuje Correctional Centre.
