EFCC declares Foreigner wanted for CBEX Crypto fraud

The Economic and Financial Crimes Commission (EFCC) has declared a foreign national, Elie Bitar, wanted in connection with a suspected cryptocurrency fraud involving the online trading platform, Crypto Bridge Exchange (CBEX).

According to an official bulletin released by the Commission, Bitar, aged 41, is wanted over an alleged fraudulent scheme perpetrated through CBEX, which is reported to have defrauded numerous unsuspecting investors across Nigeria. “The public is hereby notified that ELIE BITAR, whose photograph appears above, is wanted by the Economic and Financial Crimes Commission (EFCC) for fraud allegedly perpetrated on an online trading platform called Crypto Bridge Exchange (CBEX),” the statement read. The Commission disclosed that Bitar’s last known address was on Eng. George Enemoh Crescent, Lekki Phase 1, Lagos State. The EFCC is urging anyone with useful information regarding Bitar’s whereabouts to contact any of its zonal offices in Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja. The public may also reach the Commission via telephone on 08093322644 or email at [email protected]. CBEX emerged during a period of heightened interest in cryptocurrency investments in Nigeria. The platform promised users rapid and substantial returns through digital asset trading, but soon aroused suspicion due to its lack of regulatory compliance and transparency. The EFCC’s ongoing investigation into CBEX has reportedly revealed a chain of transactions linked to Bitar and several other individuals, some of whom are already in custody. The notice was signed by Dele Oyewale, Head of Media and Publicity at the EFCC, who reaffirmed the agency’s commitment to tracking down individuals engaged in financial fraud targeting Nigerians.