EFCC Arrests Man for Allegedly Defrauding 139 Australians of $8 Million

Operatives of the Economic and Financial Crimes Commission (EFCC) have apprehended Osang Usie Otukpa, a suspected online fraudster, for allegedly defrauding 139 Australians of $8 million (AUD).

According to a statement released on Friday by the EFCC’s Head of Media and Publicity, Dele Oyewale, Otukpa was arrested last Friday at Murtala Mohammed International Airport in Lagos upon his arrival from the United States.

The suspect, who operated under five aliases — Ford Thompson, Oscar Donald Tyler, Michael Haye, Jose Vitto, and Kristin Davidson — reportedly lured his victims via social media to invest in a fraudulent cryptocurrency platform he created, known as Liquid Asset Group (LAG).

Details of the Scam

The EFCC revealed that Otukpa’s alleged crimes involved routing proceeds through a global cryptocurrency exchange platform into his bank accounts. However, the commission did not disclose the name of the exchange platform used.

A statement from the EFCC read:

“Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested a suspected online fraudster, Osang Usie Otukpa, for allegedly duping 139 Australians to the tune of $AUD8,000,000 (Eight Million Australian Dollars). He was picked up in a stakeout at the Murtala Mohammed International Airport, Ikeja, Lagos, upon arrival from the United States of America on Friday, December 6, 2024.

“Otukpa, who goes by five aliases, scammed the victims by luring them on social media to invest in his rogue cryptocurrency investment platform, Liquid Asset Group (LAG). The proceeds of the alleged crimes were routed to his bank accounts through a global cryptocurrency exchange platform.”

Next Steps

The EFCC confirmed that investigations are ongoing and stated that Otukpa would be charged to court once the process is completed.

This arrest highlights the continued efforts of the EFCC to tackle financial crimes and protect unsuspecting individuals from fraudulent schemes.