₦airaland Forum

The Economic and Financial Crimes Commission (EFCC) has declared Elie Bitar, a foreign national, wanted for his alleged involvement in cryptocurrency fraud on the online trading platform Crypto Bridge Exchange, also known as CBEX.

The 41-year-old foreigner is wanted for a suspected fraudulent scheme carried out via CBEX, according to an official bulletin issued by the commission on Wednesday, April 30, 2025.

Hundreds of unsuspecting victims across Nigeria fell victim to the elaborate crypto fraud, which ran into over $1 billion.

“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 EFCC stated in the wanted notice signed by its Head of Media and Publicity, Dele Oyewale.

The anti-graft agency revealed Bitar's last known address is Eng. George Enemoh Crescent, Lekki Phase 1, Lekki, Lagos State.

The commission urged any member of the public with useful information that could lead to the arrest of the suspects to contact one of its zonal offices in Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja.

According to the EFCC, the public can also contact the commission by phone at 08093322644 or via email at info@efcc.gov.ng.

Bitar is the ninth suspect to be declared wanted in connection with the CBEX fraud, which has robbed scores of Nigerians of their investments.

The platform had promised users quick, high returns through crypto trading and investments, but observers raised a red flag over its lack of regulatory compliance and transparency before it eventually crashed.

So far, the EFCC investigation into the scheme has reportedly uncovered a trail of transactions linked to Bitar and individuals, some of whom have been arrested.

ValCon888:
The ripple effects of this CBEX scam is not just about lost funds. It has destroyed families, broken friendships and led to people committing suicide.

It bothers me that it is only after these types of fraud has been perpetrated that the EFCC swings into action.
They are always reactive never proactive.

ValCon888:
The ripple effects of this CBEX scam is not just about lost funds. It will destroy families, bankrupt businesses, break friendships and lead to people committing suicide.

It bothers me that it is only after these types of fraud has been perpetrated that the EFCC swings into action. They are always purposefully reactive and never proactive. As if they are partners in crime with these criminals.

I won't be surprised if this foreigner gave EFCC their share before balling out of the country.

ValCon888:
The ripple effects of this CBEX scam is not just about lost funds. It will destroy families, bankrupt businesses, break friendships and lead to people committing suicide.

It bothers me that it is only after these types of fraud has been perpetrated that the EFCC swings into action. They are always purposefully reactive and never proactive. As if they are partners in crime with these criminals.

I won't be surprised if this foreigner gave EFCC their share before balling out of the country.

BlackViper:
https://www.pulse.ng/articles/news/local/foreigner-declared-wanted-by-efcc-over-cbex-investment-fraud-2025043021284316584

PlasmaTV:
This same EFCC? 👇

Jokers.

2mch:
Who gave him visa? That investment visa is not supposed to be for anybody that has 200 dollars. There should be a limit to it. For US it’s 5m. For Nigeria it should be nothing less than 500m. What ever country he’s from they need to find it and request that he’s brought back to answer to Nigeria. Send the request to Interpol too and Nigeria immigration should be able to trace the country he traveled to if he has left the country.