CBEX: We’re Gaining Grounds In Search Of Wanted Persons -EFCC
By Anne Osemekeh, Abuja
The Economic and Financial Crimes Commission (EFCC), says it is gaining important ground in its search for eight wanted persons implicated in the monumental fraud involving many actors in the infamous Crypto Bridge Exchange (CBEX) fraud.
The Commission’s spokesman, Dele Oyewale, stated this on Wednesday.
CBEX, a cryptocurrency trading platform, promised investors astronomical returns, claiming to use AI-powered digital currency trading strategies. However, it was revealed that the platform was a house of cards, and when it crashed, it wiped out hundreds of millions of dollars, leaving hundreds of thousands of users with significant financial losses.
The eight wanted persons are: Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, Adefowora Abiodun Olanipekun, Johnson Okiroh Ofienolu, Israel Mbalika, Joseph Michiro Kabera and Serah Michiro.
Ellie Bitar of CBEX Solutions Ltd., who was earlier declared wanted, has since been removed from the list owing to new information that does not support his inclusion in the wanted person’s list.
“The Commission is making good progress in its investigations. Law enforcement agencies across the world are collaborating with it in tracking and arresting all the wanted persons. The EFCC will not relent in bringing every actor involved in the fraudulent dealings to book”, Oyewale stated.
The estimated loss is around $800 million, although the operators claim the figure is closer to $78 million (₦126 billion). The Securities and Exchange Commission (SEC) has distanced itself from the scam, stating that CBEX was not registered with the agency. The EFCC has also shifted blame to investors, saying they should have reported CBEX earlier.
