CBEX: EFCC Launches Manhunt For Promoters

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The efcc has launched a manhunt for the operators and promoters of CBEX.
This comes after a federal high court granted the order for the arrest of the promoters of the ponzi scheme.
CBEX made rounds in Nigeria after it winded up and made away with over one trillion of investors funds.

The Economic and Financial Crimes Commission has launched a manhunt for the promoters of the the infamous crypto scam, CBEX.

Recall that hundreds of Nigerians were seen around the country, crying and wailing after losing thousands and millions to the pyramid scheme.

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During a court hearing at the Federal High Court in Abuja, the EFCC, through its lawyer, Fadila Yusuf made an ex parte motion, seeking an arrest warrant against the promoters.

Giving his ruling on Thursday, April 24, Justice Emeka Nwite said;

I have listened to the submission of the learner counsel for the applicant (EFCC). I have also gone through the affidavit evidence with exhibits thereto along with the written address. I am of the view, and I so hold, that the application is meritorious. Consequently, the application is granted as prayed,”

Also Read: CBEX: SEC can’t recover lost N1.3trn funds for victims, says DG

The six promoters of CBEX were earlier identified as Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.

The whole saga started after Nigerians called on the notice of the agency, following the shutdown of the trading platform.

CBEX had promised a 100% interest per month on investments, an act which made people venture into it without proper scrutinization.