Nigeria’s EFCC green lights arrest for 6 CBEX promoters
The post Nigeria’s EFCC green lights arrest for 6 CBEX promoters appeared on BitcoinEthereumNews.com.
A federal high court in Nigeria, Abuja, has given the Economic and Financial Crimes Commission (EFCC) permission to arrest and retain six Crypto Bridge Exchange (CBEX) heist promoters. Emeka Nwite, the judge in charge, made the decision after Fadila Yusuf, a lawyer for the EFCC, asked for it outside of court. EFCC Declares Six CBEX Promoters Wanted Over ₦1.3 Trillion Ponzi Scheme The Economic and Financial Crimes Commission (EFCC) has declared six individuals wanted in connection with the ₦1.3 trillion Crypto Bridge Exchange (CBEX) Ponzi scheme. The suspects are: •Adefowora… pic.twitter.com/61iyX5NZEK — NaijaWide Media (@Naijawide01) April 25, 2025 The application shows that the EFCC suspects six people. Their names are Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim. They are all being held responsible for over $1 billion worth of investment fraud. Defendants used their company to promote CBEX through ads In the document supporting the motion, the EFCC said that the preliminary investigation into the information showed that the defendants used their company, ST Technologies International Limited, to promote another CBEX by making ads and misleading people into investing in crypto coins on the CBEX investment platform. The EFCC said that the defendants promised an unrealistic return on investment of up to 100% in their ads. At first, the victims had full access to the platform to keep an eye on their money. But later on, they lost access to the CBEX investment site and could no longer get their money back from the investments they made. “The victims were made to convert their digital assets into a stablecoin of USDT for onward deposit into the suspects’ crypto wallet,” Yusuf said. In addition, during the investigation, it was found that ST Technologies International Limited was listed with the Corporate Affairs Commission (CAC). However, it…
Filed under: News - @ April 25, 2025 8:28 pm