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