EFCC Apprehends Suspect in $8M Crypto Scam Defrauding 139 Australians

The Economic and Financial Crimes Commission (EFCC) has apprehended Osang Usie Otukpa, a suspected fraudster accused of orchestrating a massive cryptocurrency scam that defrauded 139 Australians of 8 million Australian dollars.

According to an official statement released on Friday, the EFCC detained Otukpa at Lagos’ Murtala Mohammed International Airport on December 6, 2024, shortly after he arrived in Nigeria from the United States.

Investigations revealed that Otukpa allegedly exploited social media platforms to lure unsuspecting victims into investing in a fraudulent cryptocurrency venture under the guise of his platform, Liquid Asset Group (LAG).

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“Otukpa, who operates under five aliases—Ford Thompson, Oscar Donald Tyler, Michael Haye, Jose Vitto, and Kristin Davidson—deceived his victims through a sophisticated online scheme,” the EFCC disclosed. “The proceeds of the alleged crimes were funneled into his bank accounts via a global cryptocurrency exchange platform.”

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The anti-graft agency stated that Otukpa’s arrest marked a step in their crackdown on cybercrime and financial fraud. The suspect is expected to face charges once investigations are complete.