Court Orders Arrest of Six CBEX Promoters Over Alleged $1 Billion Crypto Fra¥d

Court Orders Arrest of Six CBEX Promoters Over Alleged $1 Billion Crypto Fra¥d

Justice Emeka Nwite of the Federal High Court in Abuja has ordered the arrest and remand of six individuals linked to the controversial cryptocurrency scheme known as CBEX.

The suspects, including Adefowora Abiodun Olanipekun and Emmanuel Oku, are accused of defra¥ding Nigerian investors of over $1 billion through a company called ST Technologies, which allegedly promoted the scheme.

The order came after the EFCC filed an ex parte motion against the six defendants. According to the commission, the accused lured unsuspecting Nigerians to invest in CBEX under false pretenses.

The EFCC has pledged to recover the lost funds, valued at over N1.3 trillion, and says it is working with Interpol and other international bodies as part of its investigation into the CryptoBank Exchange sc+m.