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Alleged $1bln Fraud: CBEX Promoter in EFCC Net

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Adefowora Abiodun, a suspected promoter of the cryptocurrency trading platform Crypto Bridge Exchange (CBEX), has voluntarily submitted himself for questioning.

Abiodun was one of four individuals the Economic and Financial Crimes Commission (EFCC) had declared wanted for their alleged connection to a fraudulent investment scheme exceeding $1 billion.

He presented himself to the EFCC on Monday and indicated his readiness to assist with the ongoing investigation.

The suspect, accompanied by his lawyers, arrived at EFCC headquarters in Abuja at 4:00 pm on Monday.

Persecondnews reported that the EFCC had previously declared Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, and Adefowora Abiodun Olaonipekun wanted in connection with the scam linked to CBEX.

Last Thursday, the Federal High Court in Abuja granted the EFCC permission to arrest and detain six suspected CBEX promoters pending the conclusion of investigations and possible prosecution.

Justice Emeka Nwite issued the order following an ex parte motion filed by EFCC counsel, Fadila Yusuf.

In granting the application, Justice Nwite said: “I have listened to the submission of learned counsel for the applicant (EFCC). I have also gone through the affidavit evidence and exhibits, along with the written address. I am satisfied that the application is meritorious and hereby grant it as prayed.”

The suspects named in the court order include Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim, listed as first to sixth.

Counsel to the suspect, Mr. Babatunde Busari, said Abiodun decided to submit himself for investigation to clear his name and correct the narrative in the media.

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