The Federal High Court sitting in Abuja has ordered the arrest and remand of six promoters of the alleged fraudulent cryptocurrency investment scheme, CBEX.
The anti-graft agency made this commitment while addressing public concerns over the massive losses suffered by Nigerians who invested in the CryptoBank Exchange, while currently under investigation for fraud estimated at N1.3 trillion.
Justice Nwite granted the order on Thursday following an ex-parte motion filed by the Economic and Financial Crimes Commission (EFCC) against Adefowora Abiodun Olanipekun, Emmanuel Oku and four other defendants.
The EFCC alleged that the defendants used a company called ST Technologies to promote CBEX through which it lured Nigerians to invest in CBEX.
EFCC counsel, Fadila Yusuf, informed the court of a motion ex parte relating to investigations into CBEX and the commission’s intention to prosecute the suspects following the Administration of Criminal Justice Act.
“An order of this Honourable Court for the issuance of a warrant of arrest for the defendants.
“An order of this Honourable Court remanding the defendants in the custody of the Complainant/Applicant pending the conclusion of the investigation into the alleged offences and possible prosecution,” Yusuf said.
Fadila stated that while the defendants have not yet been apprehended, they used ST Technologies International Limited to promote another entity, Crypto Bridge Exchange (CBEX).
She also highlighted that the promoters advertised unrealistic returns and lured unsuspecting members of the public to invest in crypto on the platform, promising returns of up to 100%.
The commission, through its spokesman, Dele Oyewale, had vowed to recover Nigerians’ lost investments in the alleged N1.3 trillion CryptoBank Exchange scam, promising action in collaboration with Interpol and other international agencies.
