Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Osang Otukpa, a suspected online fraudster accused of defrauding 139 Australians of $AUD8,000,000.
The arrest was made on Friday, December 6, 2024, at the Murtala Mohammed International Airport in Lagos, shortly after Otukpa arrived from the United States.
According to a statement issued by the EFCC’s Head of Media and Publicity, Dele Oyewale, Otukpa orchestrated an elaborate scheme to lure victims through social media platforms. Using five aliases—Ford Thompson, Oscar Donald Tyler, Michael Haye, Jose Vitto, and Kristin Davidson—he reportedly operated a fraudulent cryptocurrency investment platform called ‘Liquid Asset Group’.
“Otukpa presented himself as a trusted financial expert offering high-yield investment opportunities in cryptocurrency,” Oyewale said.
“This scheme enabled him to deceive 139 Australians into making substantial investments, resulting in a total loss of $AUD8,000,000.”
Read also: Tobi Adegboyega faces deportation amid £1.87m fraud allegations
The EFCC revealed that Otukpa’s operation extended beyond Australia, with potential links to other international victims and accomplices. Preliminary investigations suggest that the funds were laundered through various offshore accounts, adding another layer of complexity to the case.
This case highlights the growing threat posed by highly developed online scams, particularly in the rapidly evolving cryptocurrency sector.
The EFCC assured the public that investigations are ongoing to recover the stolen funds and dismantle the network behind the fraudulent operation. “This arrest emphasises our commitment to protecting individuals and businesses from the dangers of cyber fraud. We urge the public to remain vigilant and report any suspicious online activities,” Oyewale added.
Otukpa is currently in custody and is expected to face multiple charges, including cybercrime and money laundering. His arrest has sparked discussions about the need for stronger international collaboration to tackle the growing menace of cross-border cyber fraud.
This case serves as a cautionary tale for investors, reminding them to exercise due diligence when engaging in online financial transactions.
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