CBEX: EFCC declares foreigner wanted

The Economic and Financial Crimes Commission (EFCC) has proclaimed a foreign national, Elie Bitar, sought for allegedly participating in a cryptocurrency fraud scheme linked to the online trading platform Crypto Bridge Exchange (CBEX).

The EFCC stated in an official bulletin posted on social media on Wednesday that Bitar, 41, is accused of running a fraudulent investment enterprise through CBEX, which has purportedly duped countless naïve 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 announcement said.

The commission identified Bitar's last known residence as Eng. George Enemoh Crescent, Lekki Phase 1, Lekki, Lagos State.

The wanted notice was signed by Dele Oyewale, the EFCC's Head of Media and Publicity.

The anti-graft agency requested anyone with information regarding Bitar's whereabouts to call one 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 by calling 08093322644 or emailing info@efcc.gov.ng.

CBEX grew in popularity as Nigerians became more interested in bitcoin, tempting customers with promises of quick and big returns. However, complaints quickly arose about the platform's lack of regulatory compliance and transparency.