The Economic and Financial Crimes Commission (EFCC) has declared eight individuals-four Nigerians and four foreign nationals-wanted in connection with a massive fraud scheme linked to the online trading platform, Crypto Bridge Exchange (CBEX).
The Nigerian suspects are:
Seyi Oloyede
Emmanuel Uko
Adefowora Oluwanisola
Adefowora Abiodun Olaonipekun
Their alleged foreign accomplices are:
Johnson Otieno
Israel Mbaluka
Joseph Michiro Kabera
Serah Michiro
The EFCC accuses the suspects of luring thousands of Nigerians into investing in CBEX, promising unrealistic returns of up to 100% per month. Investors were reportedly unable to withdraw their funds, sparking widespread suspicion that the platform was a Ponzi scheme.
Investigations revealed the promoters used a front company, ST Technologies International Limited, to attract investors. The EFCC stated that over $1 billion may have been lost to the scheme.
A Federal High Court in Abuja has authorized the EFCC to arrest and detain six of the platform’s promoters, including some of those declared wanted. The agency published the wanted notice across its official channels and is appealing to the public for information on the suspects’ whereabouts.
The EFCC urges anyone with useful information to contact its offices nationwide or the nearest police station. The agency has assured the public that all information will be treated confidentially as it intensifies efforts to tackle online financial crimes.
CBEX’s collapse is a reminder for Nigerians to remain cautious of investment platforms promising high returns.
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