The Economic and Financial Crimes Commission (EFCC) has arraigned a Nigerian man, Usie Otukpa Osang, before the Federal High Court in Abuja over an alleged multi-million-dollar cryptocurrency investment fraud.
Osang was brought before Justice Obiora Egwuatu on Monday, June 29, 2026, on an eight-count charge bordering on impersonation, conspiracy and obtaining money under false pretences.
According to the EFCC, the defendant allegedly operated under the aliases "Oscar Tyler" and "Ford Thompson" and used a fictitious cryptocurrency investment platform, Liquid Assets Group, to defraud investors.
The commission alleged that between May 2021 and May 2022, Osang and others still at large fraudulently obtained AUD$8,427,330.83 and US$3,639,462.00 from an Australian investor, Brian Jacques Creigh, the Chief Executive Officer of investment firm Panacea Capital.
Prosecutors told the court that the defendant falsely presented Liquid Assets Group as a licensed online cryptocurrency trading and investment platform capable of delivering high investment returns, despite knowing the claims were false.
The EFCC said the alleged offences contravene the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
In a separate count, the anti-graft agency accused Osang of obtaining 19.806 Bitcoin, valued at US$1,079,313, from the same complainant between August 14 and November 23, 2021. The commission alleged that the cryptocurrency was transferred through a Binance wallet address for purported investments in the fake platform.
Osang pleaded not guilty to all eight charges.
Following his plea, prosecution counsel Christopher Mshelia asked the court to fix a trial date and remand the defendant at the Kuje Correctional Centre pending trial.
Defence counsel K.I. Shuaibu applied for bail.
Justice Egwuatu adjourned the case until July 14, 2026, to hear the bail application and ordered that the defendant be remanded at the Kuje Correctional Centre pending further proceedings.
