EFCC Declares Foreign National Wanted Over $1 Billion CBEX Crypto Fraud
The Economic and Financial Crimes Commission (EFCC) has declared 41-year-old Elie Bitar, a foreign national, wanted in connection with the massive fraud involving the unregistered crypto trading platform, Crypto Bridge Exchange (CBEX).
Bitar, whose last known address is in Lekki Phase 1, Lagos, is the ninth suspect linked to the CBEX scam, joining eight previously declared wanted Nigerians. Among them is Adefowora Abiodun Olanipekun, who recently surrendered to the EFCC.
CBEX came under scrutiny in April when users reported being unable to withdraw funds, with many victims claiming losses in the millions. The Securities and Exchange Commission (SEC) had earlier clarified that CBEX was operating without proper registration.
In a related legal move, a Federal High Court in Abuja granted the EFCC permission to arrest and detain six CBEX promoters in connection with an alleged $1 billion investment scam. The order was granted by Justice Emeka Nwite following an ex parte motion filed by EFCC counsel, Fadila Yusuf.
