Nigeria's Economic and Financial Crimes Commission (EFCC) charged Usie Otukpa Osang with eight counts related to a crypto investment scam that allegedly defrauded Australian CEO Brian Jacques Creigh of over $9 million between May 2021 and May 2022. Prosecutors allege Osang and accomplices used fake identities to convince Creigh to invest in a fictitious crypto-trading platform called Liquid Assets Group, receiving 19.806 bitcoin via a Binance wallet. The case reflects Nigeria's anti-corruption agency's efforts to address international cybercrime allegations and counter perceptions that the country serves as a safe haven for financial fraud.
EFCC Files Eight Counts Against Osang Over AUD$8.43M Crypto Scheme
The EFCC arraigned Osang before Justice Obiora Egwuatu at the Federal High Court in Abuja. The charges involve AUD$8.43 million ($5.6 million) and an additional $3.64 million. Prosecutors allege the fraud occurred between May 2021 and May 2022.
Osang and several accomplices who remain at large used the aliases "Oscar Tyler" and "Ford Thompson" to deceive Brian Jacques Creigh, an Australian national and CEO of Panacea Capital. Investigators claim the group convinced Creigh to invest in "Liquid Assets Group," a fictitious online crypto-trading platform promising massive returns.
As part of the scheme, Osang allegedly received 19.806 bitcoin (valued at roughly $1.08 million at the time) via a Binance wallet. Osang pleaded not guilty to all charges.
Court Remands Defendant at Kuje Correctional Centre Pending July 14, 2026 Bail Hearing
Following the plea, prosecutor Christopher Mshelia requested a trial date and asked that the defendant remain in custody. Defense counsel K.I. Shuaibu applied for bail.
Justice Egwuatu ordered Osang remanded at the Kuje Correctional Centre and scheduled a bail hearing for July 14, 2026.
VASPA Official Challenges Nigeria Cybercrime Safe Haven Narrative
Rume Ophi, Lead of Programs and Communication at VASPA, addressed the perception that Nigeria is indifferent to international cybercrime victims.
"That narrative is largely an amplified perception that does not reflect the reality of the country's efforts to combat financial crime," Ophi told Bitcoin.com News.
Ophi suggested that foreign nationals are often the true masterminds behind these operations, recruiting locals to execute them. While acknowledging that more can be done, Ophi emphasized that Nigerian authorities deserve credit for their enforcement efforts and urged the public to promptly report crypto-related scams.
FAQ
What did the EFCC charge Usie Otukpa Osang with?
The EFCC charged Osang with eight counts related to a crypto investment scam that allegedly defrauded Australian CEO Brian Jacques Creigh of over $9 million between May 2021 and May 2022.
When is the bail hearing scheduled for Osang?
Justice Egwuatu scheduled a bail hearing for July 14, 2026. Osang is remanded at the Kuje Correctional Centre until that date.
How much bitcoin did Osang allegedly receive in the scheme?
Prosecutors allege Osang received 19.806 bitcoin (valued at roughly $1.08 million at the time) via a Binance wallet as part of the fraudulent scheme.
