The Economic and Financial Crimes Commission (EFCC) has declared a foreign national, Elie Bitar, wanted in connection with an alleged cryptocurrency investment fraud perpetrated through the online platform, Crypto Bridge Exchange (CBEX).
According to a bulletin released by the anti-graft agency on Tuesday, Bitar, 41, is suspected to have orchestrated a scheme that defrauded multiple investors across Nigeria. The EFCC stated that CBEX attracted users with promises of fast and high returns through crypto trading, but investigations revealed a pattern of deception and financial exploitation.
“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 statement read.
Bitar’s last known address, according to the Commission, is on Eng. George Enemoh Crescent, Lekki Phase 1, Lagos. The EFCC is appealing to members of the public with any information regarding his whereabouts to contact any of its zonal offices nationwide, including those in Lagos, Abuja, Kano, Port Harcourt, and other cities.
Members of the public can also reach the Commission via the phone number 08093322644 or by email at info@efcc.gov.ng.
Crypto Bridge Exchange surfaced amid a surge in cryptocurrency interest in Nigeria. It soon drew regulatory attention over concerns regarding transparency and compliance. The EFCC’s probe has since uncovered financial transactions linking Bitar to the platform’s operations, with several accomplices reportedly apprehended.
Dele Oyewale, Head of Media and Publicity at the EFCC, who signed the bulletin, reaffirmed the agency’s dedication to curbing financial fraud and bringing perpetrators to justice.
This development comes amid growing efforts by the EFCC to tackle internet-based investment fraud, following other high-profile arrests and prosecutions in recent months.
