EFCC Arraigns Victor Thompson Over Alleged $525,276 Investment Fraud Involving U.S. Victims

The Economic and Financial Crimes Commission (EFCC) has arraigned Victor Ekpong Thompson before the Federal High Court sitting in Uyo, Akwa Ibom State, over allegations that he defrauded several American citizens of a total sum of $525,276 through fraudulent investment schemes.

Thompson was brought before the court on Thursday, January 29, 2026, where he was charged with eight counts bordering on obtaining money by false pretence. The case is being heard by Justice Maureen Adaobi, following investigations conducted by the Uyo Zonal Directorate of the EFCC.

According to the anti-graft agency, Thompson allegedly orchestrated an elaborate scheme in which he falsely represented himself as a facilitator of high-value investment opportunities in Nigeria’s mineral resources sector and in proposed deep seaport development projects. The EFCC claims that these representations were deliberately designed to mislead foreign investors into believing that the ventures were legitimate, viable, and backed by credible government approvals.

Among the alleged victims are American nationals Tammy Jensen, Peter Jensen, and Kenneth Blad, alongside other investors who were reportedly persuaded to transfer substantial sums of money to accounts linked to the defendant. The EFCC maintains that the promised investment projects either did not exist or were grossly misrepresented, and that the funds were diverted for personal use.

One of the charges read in open court stated that between April 2024 and December 2024, Thompson fraudulently obtained the sum of $213,350 from the complainants under false pretences, an act said to contravene provisions of the Advance Fee Fraud and Other Related Offences Act, 2006. The prosecution further alleged that the defendant acted with clear intent to defraud by presenting forged documents, false assurances, and misleading claims regarding the status and profitability of the supposed projects.

When the charges were read to him, Thompson pleaded not guilty to all eight counts, prompting the court to move toward trial proceedings. Following the plea, prosecution counsel Joshua Abolarin requested that the defendant be remanded in a correctional facility and that a trial date be fixed, citing the seriousness of the offences and the risk of interference with ongoing investigations.

In response, defence counsel Savn Daniel made an oral application for bail, arguing that the defendant was entitled to the presumption of innocence and would be willing to comply with any conditions imposed by the court. The prosecution opposed the bail application, urging the court to exercise caution given the cross-border nature of the alleged offences and the substantial sums involved.

After hearing arguments from both parties, Justice Adaobi adjourned the matter to March 19, 2026, for ruling on the bail application and for the commencement of trial. Pending the court’s decision, the judge ordered that Thompson be remanded at the EFCC detention facility in Uyo.

In a statement following the arraignment, the EFCC reiterated that the case forms part of its broader efforts to combat financial crimes, particularly those involving international victims. The commission emphasized that cross-border fraud poses a significant threat to Nigeria’s financial reputation and economic stability, noting that such crimes undermine investor confidence and strain diplomatic relations.

The EFCC further stated that it remains committed to investigating and prosecuting individuals involved in cyber-enabled fraud, advance fee fraud, and other forms of financial misconduct, regardless of the social status or perceived influence of the suspects. The agency also urged members of the public to exercise caution when engaging in investment opportunities, especially those involving unsolicited proposals or promises of unusually high returns.

As the case proceeds, legal observers say the outcome could serve as an important test of Nigeria’s resolve to address international financial crimes and demonstrate accountability within its justice system. The court’s eventual ruling will determine Thompson’s legal fate, while also sending a broader message about the consequences of fraudulent practices that extend beyond national borders.

For now, the defendant remains in custody, as the judiciary prepares to examine the evidence and arguments that will shape the course of the trial in the coming weeks