EFCC Arraigns Alleged Fake Investor over $525,276 Fraud Involving Americans

The Economic and Financial Crimes Commission (EFCC) arraigned Victor Ekpong Thompson before the Federal High Court in Uyo for allegedly defrauding several Americans of $525,276 through a fake investment scheme.

The anti-graft agency disclosed the development in a statement shared on its official X account on Monday.

According to the EFCC, Thompson was brought before Justice Maureen Adaobi on eight counts bordering on obtaining money by false pretence, linked to purported investments in mineral resources and a deep-sea port business.

What the EFCC is saying

In its statement, the EFCC said Thompson allegedly obtained funds from victims, including Tammy Jensen, Peter Jensen, Kenneth Blad, and others, between April and December 2024.

The commission said the defendant presented himself as an investment facilitator, persuading the victims to commit funds to mining and deep-sea port projects that were later found to be fictitious.

“The Economic and Financial Crimes Commission,  EFCC, Uyo Zonal Directorate on Thursday January 29, 2026, arraigned Victor Ekpong Thompson before  Justice Maureen Adaobi of the Federal High Court sitting in Uyo for allegedly defrauding some Americans the sum of $525. 276 (Five Hundred And Twenty Five Thousand, Two Hundred And Seventy Six United States Dollars),” the statement read in part.

Details of the charges and court proceedings 

One of the charges alleged that Thompson fraudulently obtained $213,350 from the victims under the guise of joint investments.

The EFCC said the offence is contrary to Section 1(1)(b) of the Advance Fee Fraud and Other Related Offences Act, 2006.

• The commission said Thompson pleaded not guilty when the charges were read in court.
• Following his plea, the prosecution requested a trial date and asked the court to remand the defendant pending the determination of the case.
• The defence, however, made an oral bail application, which the prosecution opposed.

Justice Adaobi adjourned the matter to March 19, 2026. The date was set for ruling on the bail application and commencement of the trial.

The court ordered that the defendant be remanded at the EFCC detention facility in Uyo.

Why it matters 

The arraignment comes amid a pattern of investment scams in Nigeria, with several cases over time involving Nigerians defrauding both local and foreign victims. This case highlights how some schemes target international investors under the guise of legitimate business opportunities.

• Even the Securities and Exchange Commission (SEC) has repeatedly warned the Nigerian investing public to be cautious of fraudulent schemes, including Ponzi operations and unregistered digital asset platforms.
• For example, CBEX reignited urgent calls for stricter government regulation and enforcement. Operating without any official social media presence, CBEX presented itself as a high-yield investment platform but ultimately left its users in financial disarray.

Its sudden collapse blocked investors from accessing their funds, causing losses exceeding N2.4 billion and exposing critical gaps in Nigeria’s regulatory framework for digital investments.

What you should know 

The EFCC has sustained its crackdown on financial crimes across Nigeria, focusing on corruption, contract fraud, and illicit financial flows.

• In recent cases, the commission arraigned BFI Group Corporation and six individuals before the FCT High Court in Jabi, Abuja, over an alleged attempt to defraud the Central Bank of Nigeria (CBN) of €100 million using a fake Certificate of Capital Importation.
• The EFCC also recovered N1.234 billion from Sujimoto Luxury Construction Limited over its failure to deliver 22 smart school projects in Enugu State.
• In a separate case, the commission arraigned Alhaji Mohammed Danjuma over an alleged N2.2 billion fraud linked to the Multi-Sectoral Crisis Recovery Project (MCRP).

Beyond contract-related cases, the EFCC said it uncovered a N162 billion cryptocurrency-related fraud involving a commercial bank, six fintech firms, and several microfinance banks. The commission cited lapses in customer due diligence and anti-money laundering compliance during the 2024/2025 financial year.