EFCC Declares 4 Cbex Promoters Wanted

The Economic and Financial Crimes Commission (EFCC) has declared four people wanted over the alleged investment fraud perpetrated on Crypto Bridge Exchange (CBEX), a trading platform.

This came following the warrant of arrest and order granted the EFCC by a Federal High Court in Abuja on Thursday for six suspects.

Justice Emeka Nwite gave the order following an ex-parte application filed by the EFCC through Fadila Yusuf, its counsel.

The suspects declared wanted are Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede.

Spokesman of the EFCC, Dele Oyewole, made the announcement in a post yesterday.

In the affidavit in support of the motion, the EFCC said preliminary investigation into the intel revealed that the defendants “using their company ST Technologies International Limited, promoted another company Crypto Bridge Exchange (CBEX) by making adverts and lured unsuspecting members of the public to invest crypto cryptocurrencies on the CBEX investment platform”.

The commission said the defendants promised an unrealistic return on investment of up to 100 percent.

Nigerians who invested in the platform counted losses after the crash of the business recently.

About N1.3 trillion was reportedly wiped out from the investors’ accounts after the digital trading platform boasted of giving investors 100 percent return on investment in 30 days.