Crypto Fraudster, Jesam Michael Wields Power From Kuje Prison, Bribes Police To Detain Former Lawyer Accused Of Leaking Information

Jesam Michael, the CEO of cryptocurrency trading platform Afriq Arbitrage System (AAS), has been wielding power from behind bars at the Kuje Custodial Center of the Nigerian Correctional Services in Abuja, SaharaReporters has learnt.

Despite being remanded in prison for fraud, Michael has allegedly been using his connections with high-ranking officials in the Nigeria Police Force and Department of State Services (DSS) to further his interests.

According to leaked audio calls, Michael paid N250,000 to bribe the Commissioner of Police in Cross River State, Rashid Afegbua, allegedly through a police legal officer, to detain his former lawyer, Obeten Okoi, accused of faking documents in N68million property purchase agreement.

SaharaReporters further gathered that Michael’s actual grouse with his former lawyer and a kinsman was suspicion that he leaked information about his fraudulent activities, which led to his arrest and ongoing prosecution.

The international fraudster was arraigned on June 10, 2025, before Justice Obiora Egwuatu by the Economic and Financial Crimes Commission (EFCC) on seven-count charges bordering on fraud and engaging in specialised business of financial services without a valid license.

Egwuatu subsequently remanded him in the Correctional Centre after his bail was denied.

The international fraudster allegedly defrauded many Nigerians a staggering $844,416.36, $10,000, and N590 million through crypto.

The judge had observed that about 50,000 victims are affected by the investment fraud and emphasised the need for a speedy trial while the suspect remains in custody.

The EFCC alleged that Michael and his company, between September 2022 and June 2023, in Abuja, while not being a bank or an authorised entity to take deposits, invited the public through advertisements to deposit funds with Afriq Arbitrage System Limited.

This, according to the Commission, is in contravention of Section 44(1) of the Banks and Other Financial Institutions Act, 2020, and is punishable under the same Act.

SaharaReporters reports that Jesam Michael was first arrested in February by the Nigeria Police Force in connection with the investment fraud.

In one of the leaked audio calls, Michael shared a conversation between a supposed DSS personnel and a police officer identified as Bar Victor Otu, who claimed to be the Commissioner of Police in Calabar. The DSS personnel allegedly confirmed that she had spoken with the CP, who assured her that Obeten Okoi would not be granted bail.

Audio: “I called this man on, that same day you gave me the number, I called him whether around 8 or 9pm. I guess he was not in the conference as he claims to be in the conference. He was at home, it was in a calm place, I called him, I greeted him and I now said, good evening sir, I am so so person I introduced myself and I said, sir I believe you are the CP Calabar, he said yes. I now said good evening sir, and I now re-greeted him good evening sir.

“He claims to be the CP, oh he did not know you address him as CP, but I address him as CP. I introduced myself to him, he was telling me okay, I even told him sir, we will be coming the next day to pick the suspect. Please sir, don’t release him, he should not be granted bail.

“He said yes, I will do that. That was when I called you, I said that I was talking with the CP and he said they will not release him. I told you, so he should stop doing all this. He cannot say this on my face,” the supposed DSS personnel said.

In another audio call leak with the supposed CP identified as Barr Edet which Officer in-charge of legal department, Barr Victor Otu allegedly gave his number to extort N250,000 to detained his former lawyer whom he accused of defrauding him N68 million.

Leaked call: “Bar Edet good morning sir, I am trying to call the O/C legal who gave me your number and he told me you are the Commission of Police Cross River State. I’m trying to call him to find out why would you lie to me that that is the CP Cross River State. They called him.

“Why would you do that? And the way he introduced you to us, to me, and to the policemen who were coming from Abuja to come and pick the suspects, right? He said that the IG – Inspector General of Police – has called you in person, IG has called you in person, and because IG has called you, you release the suspect to go. That was what he told everyone. And that was the same thing he told FCT Command, the officers who were coming from Abuja to come and pick the suspect.

“So, I don’t know why he’s putting it to us that you are the CP Cross River State. No, I’m not oh!. What? I’m a practicing lawyer here.

“But you hear me since Monday, I’ve been calling you CP, CP, CP. You know, we were on conference, there were so much noise, so I didn’t.

“But even this morning, you hear me addressing you as a CP Cross River.

“That’s when you now said CP, and I said no, I’m not the CP. But can, I don’t know if I can add the OC Legal to this call. Can I add him? Hmm. Which OC legal? Yeah, OC Legal … Mr. Otu. He was the one who addressed you as, who told us that you are the CP Cross River.

“What’s his name? His name… Don’t waste your credit. I’m living close to the state CID. Okay.

“Yeah. I’m staying close. Okay.

“So I can walk down there and look and get him. I can meet him there, and then relate these issues. Then let him see me that I am not the CP…

“He went as far as telling me he is with the CP now. He’s in the CP’s office. He is talking with the CP now.

“I went as far as giving him N250,000. What for? Why will he use you, your name, your phone number to collect that money? What for? I don’t know. I’m not going to leave a stone unturned.

“Honestly, I’m going to follow it up. I want to know why he will use you to deceive us. That you are the CP Cross River State. Why? What for? That he is with you and IG called you. Because IG called you, you release a suspect to go. Is not me Oh! What? Okay. And the suspect name is Bar Okoi Obeten. I don’t know why he is using your name that you are the CP Cross River State, I don’t know.

“Yes, Bar. Okoi Obeten is a suspect, they give that N68 million to go to Ugebe to buy land which he faked documents of 105 plots of land meanwhile is 75 – two plots of land he bought. So, Area Command Ugebe effected the arrest and arrested him only for OC Legal here being Otun Victor to came up and said, he asked the Area Command to move the suspect to Calabar, on the arrival he gave me your number as the CP Cross River State to talk to you. No, no, no is a wrong number.

“Wow. Wow. Wow.

“It’s okay. It’s okay. Thank you, sir. Thank you.”

Michael’s former lawyer, Obeten Okoi, denied allegations of defrauding Michael, when SaharaReporters reached out to him, stating that he was only supervising the purchase of land and had done nothing wrong.

Okoi claimed that Michael was blackmailing him because he is suspecting he had provided information that led to his arrest.

He explained: “He asked the younger brother by name Donatus Okoi to buy land under my supervision to investigate title and draft agreement which I did. We later discovered that the land was not complete due to manual way of counting. When we brought a surveyor who used compass to measure the figure, was 72 instead of 96.

“The youngest brother Donatuse Okoi went further to buy the said land and complete it. They had a family meeting settled it. But refused talking to me as well as relating with me. Shortly after that he was arrested.

“So he’s currently blackmailing me because he felt that I gave police information that led to his arrest.

“The voice notes explain his evil plans with the police to humiliate and deal with me. He never sent any money to my account to buy land for him. He pays directly to vendors,” he explained.

credit:saharareporters.com