How Businessman Used Forged Mining Licence to Defraud American Investors of Alleged $525,276 – EFCC’s Witness

Details have emerged how a businessman, Victor Ekpong Thompson allegedly used a forged mining licence to defraud three American investors: Tammy Jenson, Kenneth Blad, and Peter Jensen to the tune of $525, 276.

A Second Prosecution Witness, PW2, Michael Eyo, in the trial of Thompson revealed this to the Federal High Court sitting in Uyo, Akwa Ibom State and presided over by Justice Maurine Adaobi Onyetenu, on Tuesday.

Thompson was first arraigned on January 29, 2026 on eight-count charges bordering on conspiracy, advance fee fraud, criminal breach of trust, criminal misappropriation and stealing, to which he pleaded ‘not guilty’.

One of the charges read: “That you Victor Ekpong Thompson, on or between January, 2025 to June 2025 in Nigeria, within the Jurisdiction of this Honourable court, with the intent to defraud, did fraudulently obtain the total sum of One Hundred and Twenty Three Thousand and Thirty United States Dollars ($123,030 USD) from Tammy Jensen, Peter Jensen, Kenneth Blad and others(joint unsuspecting investors), under the pretense of investing the money in mining of Mineral Resources and Deep Sea Port Business, and thereby committed an offence contrary to Section 1(1) (b) of the Advance Fee Fraud and other Related Offences Act , 2006 and punishable under Section 1(3)of the same Act.

While addressing the court, Eyo stated that he owned a mining site located in the Biase Local Government Area of Cross River State. He further stated that the defendant tricked him into releasing his mining licence to him, photographed it and used it as his own licence to defraud unsuspecting investors.

“The fraudster asked me to bring the originals of my licence to verify the authenticity. Thereafter, he snapped the licence not knowing that he was doing it to forge and convince the investors,”he said.

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Defense counsel, Madu Uwem Amamko, had earlier moved a motion for bail on health grounds, which the prosecution counsel Joshua Abolarin opposed on the grounds that the defendant’s health was not in any danger.

After listening to the arguments canvassed by both counsel, Justice Onyetenu reserved her ruling on bail till June 8, 2026.

Earlier in the course of the trial, on March 26, 2026, while giving her evidence-in-chief, one of the defrauded investors, Tammy Jensen recounted how she met Thompson on Facebook in August 2022, and how he represented himself as a dealer in precious stones.

She stated that he persuaded her and other investors to fund a mining project under the proposed company, Arch Royale Projects Limited, to be situated in Iwuru Community, Biase Local Government Area of Cross River State.

She further told the court that Thompson also introduced an additional investment opportunity in a Deep Sea Port project in Akwa Ibom State, which promised substantial returns on investment.

According to her, between 2023 and 2025, an aggregate sum of $525,276 was transferred to Thompson’s bank account. She said her observation on arrival at the site made her realize that the entire arrangement was a bogus scheme aimed at defrauding her and other investors.

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Thompsons’ arrest stemmed from a petition dated October 18, 2025, filed on behalf of a team of foreign investors from the United States of America, namely, Tammy Jensen, Kenneth Blad, Peter Jensen, Beth Southwick, and Angie Craven.
According to the petitioner, Thompson allegedly contacted Tammy Jensen on August 20, 2022, via Facebook, presenting himself as a legitimate businessman involved in the exploration of precious stones such as emerald, ruby, and sapphire.

He reportedly gained the trust of Jensen and her associates by presenting false credentials and convincing them to invest in a mining venture and a purported Deep Sea Port project.

In the mining scheme, Thompson allegedly introduced Arch Royale Projects Limited as an operational company, despite knowing that it was not registered with the Corporate Affairs Commission at the time. He claimed to have secured a mining site at Iwuru Community in Biase Local Government Area of Cross River State. Investigations showed that he inflated operational costs, withheld funds meant for workers, and used staged photographs alongside fabricated updates to sustain the deception.

Similarly, in the Deep Sea Port scheme, Thompson allegedly claimed involvement in a $6.7 billion project, invoking the names of senior government officials to mislead investors. He reportedly requested $110,000 as documentation fees, falsely claiming that other required funds had already been provided by government officials.

In total, the petitioners allegedly transferred $525,276 (Five Hundred and Twenty-Five Thousand, Two Hundred and Seventy-Six United States Dollars) to Thompson between June 2023 and August 2025 through Wells Fargo Bank, Chase Bank, WorldRemit, and into accounts linked to him.

Suspicion intensified when Jensen visited Nigeria in June 2025 and discovered inconsistencies in Thompson’s claims.
Investigations had shown that substantial portions of the funds were diverted for personal use.

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Assets traced to Thompson include a two-storey duplex at Shelter Afrique Estate, Uyo, a Toyota Hilux, and a grey Lexus RX350