Fake Investor Arraigned in Akwa Ibom for Defrauding Americans of $525,276
The Economic and Financial Crimes Commission (EFCC) has taken decisive legal action against an alleged fraudster in Akwa Ibom State. Victor Ekpong Thompson was arraigned before Justice Maureen Adaobi at the Federal High Court in Uyo on Thursday, January 29, 2026. He faces eight-count charges for reportedly defrauding several American citizens of a total sum of $525,276.
Details of the Alleged Investment Scam
The EFCC, in a statement released on Monday, February 2, 2026, outlined the specifics of the case. Thompson is accused of obtaining the substantial amount from his victims under the false pretence of helping them invest in lucrative business ventures. These purported investments included mineral resources mining and deep sea port operations, which investigators claim were entirely fabricated schemes designed to deceive unsuspecting investors.
The named victims in this elaborate fraud case include Tammy Jensen, Kenneth Blad, Peter Jensen, and several other individuals who trusted Thompson with their funds. One particular charge details how between April and December 2024, Thompson allegedly fraudulently obtained $213,350 from these joint investors through the same deceptive investment promises.
Legal Proceedings and Court Developments
During the court session, Thompson pleaded not guilty to all charges brought against him. Following his plea, prosecution counsel Joshua Abolarin requested the court to set a trial date and remand the defendant in a Correctional Centre until the case is determined. Defence counsel Savn Daniel countered with an oral bail application, which the prosecution strongly objected to.
After carefully considering arguments from both legal teams, Justice Adaobi made several important rulings. She adjourned the matter to March 19, 2026, for both the determination of bail and the commencement of trial proceedings. Meanwhile, the court ordered that Thompson be remanded at the EFCC's detention facility in Uyo pending further legal developments.
Legal Framework and Potential Consequences
The charges against Thompson fall under Section 1 (1) (b) of the Advance Fee Fraud and Other Related Offences Act, 2006. This legislation specifically addresses fraudulent activities where individuals obtain money through false pretences, particularly in investment schemes. If convicted, Thompson could face punishment under Section 1 (3) of the same Act, which prescribes significant penalties for such financial crimes.
This case highlights the ongoing efforts by Nigerian anti-corruption agencies to combat financial fraud that crosses international boundaries. The EFCC's Uyo Zonal Directorate demonstrated its commitment to pursuing justice in complex financial crimes that affect both local and foreign victims.
