$525k Mineral Scam: Fake Investor Arraigned in Uyo

​The Economic and Financial Crimes Commission (EFCC) has cracked down on a high-stakes investment fraud involving Victor Ekpong Thompson, who allegedly swindled American citizens out of over half a million dollars. Thompson appeared before the Federal High Court in Uyo on Thursday, January 29, 2026, facing an eight-count charge of obtaining money under false pretenses.

​The Scheme: Mining and Maritime Mirages

​According to the EFCC’s Uyo Zonal Directorate, Thompson orchestrated a sophisticated “investment” trap between April and December 2024. He allegedly lured his victims—identified as Tammy Jensen, Kenneth Blad, Peter Jensen, and others—with the promise of lucrative returns in mineral resource mining and deep-sea port developments in Nigeria.

​Instead of securing assets, the prosecution claims the $525,276 sent by the unsuspecting Americans vanished into Thompson’s personal coffers. One specific count in the charge sheet highlighted a single extraction of $213,350 from the joint investors, a move the EFCC says violates Section 1 (1) (b) of the Advance Fee Fraud and Other Related Offences Act, 2006.

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​Court Proceedings and Remand

​Appearing before Justice Maureen Adaobi, Thompson pleaded not guilty to all eight counts. While the defense counsel, Savn Daniel, attempted an oral bail application, it was met with stiff opposition from EFCC prosecutor Joshua Abolarin.

​Abolarin argued for a formal trial date and requested that the defendant remain in custody to ensure his appearance. Justice Adaobi ultimately adjourned the matter until March 19, 2026, for the determination of bail and the commencement of the trial. In the interim, Thompson has been remanded at the EFCC’s detention facility in Uyo.