The Economic and Financial Crimes Commission (EFCC) has declared Elie Bitar, a 41-year-old foreign national, wanted for allegedly orchestrating a cryptocurrency investment scam linked to the controversial online platform, Crypto Bridge Exchange (CBEX).
According to a bulletin released by the anti-graft agency on Wednesday, Bitar is believed to have masterminded a fraudulent scheme that lured unsuspecting investors across Nigeria with promises of high returns. The EFCC said many individuals have fallen victim to the alleged scam, suffering significant financial losses.
Bitar’s last known address is Eng. George Enemoh Crescent, located in the Lekki Phase 1 area of Lagos State. The commission is appealing to the public for any information that could aid in locating him.
Authorities warn Nigerians to remain vigilant against investment platforms that offer returns that seem too good to be true, especially in the fast-growing but largely unregulated cryptocurrency space.
The wanted notice was signed by the EFCC’s Head of Media and Publicity, Dele Oyewale.
The anti-graft agency urged anyone with information on Bitar’s whereabouts to contact any of its zonal offices in Abuja, Lagos, Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Gombe, or Port Harcourt. Tips can also be submitted via phone at 08093322644 or by email at info@efcc.gov.ng.
CBEX gained popularity amid Nigeria’s growing interest in cryptocurrency, luring users with promises of quick and substantial returns.
However, concerns soon emerged regarding the platform’s lack of regulatory compliance and transparency.