The Economic and Financial Crimes Commission (EFCC) has arrested a Nigerian man, Osang Otukpa, for defrauding 139 Australians of AUD 8 million.

Otukpa created a fake cryptocurrency investment platform called Liquid Asset Group, where he convinced his victims on social media to invest their money. To carry out the scam, he used five fake names: Ford Thompson, Oscar Donald Tyler, Michael Haye, Jose Vitto, and Kristin Davidson.

The EFCC arrested Otukpa on December 6, 2024, at the Murtala Mohammed International Airport, Lagos, after he returned from the United States. EFCC spokesperson, Dele Oyewale, confirmed that the suspect is under investigation and will be charged in court soon.

Oyewale said, “Operatives of EFCC have arrested a suspected online fraudster, Osang Usie Otukpa, for allegedly duping 139 Australians to the tune of $AUD8,000,000.

“He was picked up in a stake out 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, namely: Ford Thompson, Oscar Donald Tyler, Michael Haye, Jose Vitto and Kristin Davidson scammed the victims by luring them on the social media to invest in his rogue cryptocurrency investment platform, Liquid Asset Group.

“The proceeds of the alleged crimes were routed to his bank accounts through a global cryptocurrency exchange platform.”

This case highlights the growing issue of cryptocurrency fraud and the need for caution when investing online.