EFCC Charges Usi Otukpa Osang with $8.4M Fraud

Usi Otukpa Osang was arraigned by the Economic and Financial Crimes Commission (EFCC) before Justice Obiora Egwuatu at the Federal High Court in Abuja for alleged investment fraud amounting to AUD 8,427,330.83 (approximately eight million four hundred twenty-seven thousand three hundred thirty Australian dollars and eighty-three cents) and USD 3,639,462.00 (three million six hundred thirty-nine thousand four hundred sixty-two US dollars). The charges, which include conspiracy and obtaining money under false pretenses, relate to fraudulent activities conducted between May 2021 and May 2022.

Osang, alongside co-defendants Oscar Tyler Ford Thompson and others, allegedly defrauded Brian Jacqu Creigh, an Australian citizen and CEO of Panacea Capital, through a licensed online cryptocurrency trading investment platform. The defendants pleaded not guilty, and the prosecuting counsel, Christoph Mshelia, requested a trial date.

The court has remanded the defendants at Kuje Correctional Centre and adjourned the matter until July 14, 2026, for a bail application hearing.