The Economic and Financial Crimes Commission (EFCC) has officially commenced the prosecution of Usie Otukpa Osang, who was arraigned on Monday, June 29, 2026, before Justice Obiora Egwuatu of the Federal High Court in Abuja. Osang faces an eight-count charge, including impersonation and obtaining money under false pretenses, involving staggering sums totaling over AUD8.4 million and US3.6 million.
The Charges and Allegations
Operating under the aliases “Oscar Tyler” and “Ford Thompson,” the defendant is accused of orchestrating a sophisticated investment fraud scheme between May 2021 and May 2022.
According to the charge sheet, Osang allegedly defrauded Brian Jacques Creigh, an Australian citizen and CEO of the investment firm Panacea Capital. The prosecution claims that Osang misrepresented a platform known as “Liquid Assets Group” as a licensed online cryptocurrency trading and investment entity, promising significant returns on capital to lure investors.
Beyond the initial investment fraud, count six of the charge specifically highlights the illicit acquisition of 19.806 BTC, valued at approximately $1,079,313, through a Binance wallet address. These funds were reportedly obtained from Mr. Creigh under the same fraudulent pretenses.
Legal Proceedings
During the arraignment, the defendant entered a “not guilty” plea to all counts brought against him. Prosecution counsel Christopher Mshelia requested a trial date and asked the court to remand the defendant in custody. Conversely, defense counsel K.I. Shuaibu submitted a formal application for the defendant’s bail.
Justice Egwuatu has ordered that the defendant be remanded at the Kuje Correctional Centre in Abuja. The court has adjourned the proceedings until July 14, 2026, to hear and determine the bail application.
The case underscores the persistent challenges posed by international investment scams targeting unsuspecting foreign investors through decentralized digital assets.
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