The Economic and Financial Crimes Commission has declared four individuals wanted in connection with the alleged fraud linked to Crypto Bridge Exchange, a cryptocurrency trading platform. The suspects, identified as Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede, are accused of promoting the platform and luring investors with promises of high returns. The EFCC issued the notice following a Federal High Court order in Abuja, which granted permission to arrest and detain six promoters of the platform.
The CBEX platform reportedly collapsed earlier this month, leaving investors unable to access their funds. The scheme allegedly defrauded investors of over $1 billion, sparking outrage and leading to protests at affiliate offices. The EFCC stated that the suspects used their company to promote CBEX and attract unsuspecting investors, promising returns of up to 100 percent.
The commission has urged the public to provide information on the whereabouts of the suspects and has emphasized its commitment to tackling financial crimes in the cryptocurrency space. Investigations are ongoing, and efforts are being made to recover funds and prosecute those involved in the scam. The case has reignited discussions about the risks associated with unregulated investment platforms and the need for stricter oversight in the financial sector.
