EFCC Declares Four Suspects Wanted in Multi-Million Dollar CBEX Fraud Case
The EFCC has declared four individuals wanted over fraud linked to Crypto Bridge Exchange (CBEX), following a court’s permission to detain six others in a significant investment scam totaling $1 billion. The victims, who lost funds due to halted withdrawals, have reacted by storming affiliate offices in protest.
The Economic and Financial Crimes Commission (EFCC) has put out a wanted notice for four individuals tied to a fraud case involving the Crypto Bridge Exchange (CBEX). These suspects include Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede. The announcement was made on the EFCC’s social media pages last Friday, spotlighting the seriousness of the situation.
In the notice, the EFCC stated, “The public is hereby notified that the persons whose photographs appear above are wanted by the Economic and Financial Crimes Commission (EFCC) for fraud allegedly perpetrated on an online trading platform called Crypto Bridge Exchange (CBEX).” This case is particularly notable as it follows a recent federal high court ruling that allowed the EFCC to detain six additional promoters involved in alleged investment fraud totaling about $1 billion.
The court’s permission was granted by Emeka Nwite after an ex parte application was submitted by the EFCC’s counsel, Fadila Yusuf. This application detailed the involvement of six individuals, including those named in the wanted notice, along with Avwerosuo Otorudo and Chukwuebuka Ehirim. According to the EFCC, initial investigations showed that the suspects lured unsuspecting investors with promises of staggering returns as high as 100 percent on their cryptocurrency investments through CBEX.
Concerns about CBEX have escalated since reports surfaced in April indicating that users could no longer withdraw their funds, leading to significant financial losses for many. This fallout spurred a group of irate investors to raid the office of Smart Treasure (ST Team), a CBEX affiliate, in Ibadan, Oyo state, causing chaos and damage as they expressed their outrage.
In summary, the EFCC is actively pursuing four individuals linked to a significant scam involving the Crypto Bridge Exchange (CBEX). Allegations of deceiving investors with false promises of high returns have led to both legal action and public unrest. As investigations develop, the agency’s commitment to curbing financial crimes remains evident.
Original Source: www.nigerianeye.com
