The Economic and Financial Crimes Commission (EFCC) has declared eight individuals wanted for their alleged involvement in a fraudulent scheme tied to the Crypto Bridge Exchange (CBEX) online trading platform.
A public notice issued by the EFCC on Friday named the individuals as Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, and Adefowora Abiodun Olaonipekun, alongside their foreign associates, Johnson Otieno, Israel Mbaluka, Joseph Kabera, and Serah Michiro.
The EFCC has accused them of orchestrating a fraud on the CBEX platform, which promised high returns to investors.
“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),” the notice read.
This action follows a recent decision by the Federal High Court in Abuja, which granted the EFCC’s request to arrest and detain individuals involved in promoting the CBEX scheme.
Justice Emeka Nwite issued the order after counsel for the EFCC, Fadila Yusuf, argued that six CBEX promoters should be detained pending the conclusion of investigations.
The six individuals named in the court’s ex parte motion filed on April 23 include Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.
The EFCC had requested the detention of the promoters, alleging that they misled investors with promises of an unrealistic 100% return on investment.
Investors who had trusted the platform with their funds have reported being unable to withdraw their money, leading to widespread frustration.
Angry investors have been seen protesting at CBEX offices in Oyo and other locations, demanding refunds.
The EFCC continues its investigations into the alleged scam and is calling on the public to assist in locating the wanted individuals.
