Omotayo Adigun
The Economic and Financial Crimes Commission (EFCC) has officially declared Elie Bitar, a 41-year-old foreign national, wanted in connection with a massive cryptocurrency fraud perpetrated through the online trading platform known as Crypto Bridge Exchange (CBEX).
The anti-graft agency issued a public bulletin on Wednesday, April 30, 2025, seeking information leading to Bitar’s arrest.
According to the EFCC, Bitar is wanted for his alleged involvement in a sophisticated fraudulent scheme orchestrated via CBEX, which has defrauded hundreds of unsuspecting victims across Nigeria of investments totaling over $1 billion.
The wanted notice, signed by the EFCC’s Head of Media and Publicity, Dele Oyewale, included Bitar’s photograph and urged members of the public with relevant information to come forward. The agency disclosed Bitar’s last known address as Eng. George Enemoh Crescent, Lekki Phase 1, Lekki, Lagos State.
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The EFCC has appealed to the public to contact any of its zonal offices located in Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja with any information that could aid in Bitar’s apprehension. The commission also provided a dedicated phone number (08093322644) and email address (info@efcc.gov.ng) for reporting tips.
Elie Bitar is now the ninth suspect to be officially declared wanted by the EFCC in connection with the devastating CBEX fraud, which has resulted in significant financial losses for numerous Nigerian investors.
The Crypto Bridge Exchange platform had enticed users with promises of rapid and substantial returns through cryptocurrency trading and investments. However, concerns regarding the platform’s lack of regulatory compliance and transparency were raised by observers prior to its eventual collapse, leaving investors with substantial losses.
The EFCC’s ongoing investigation into the CBEX scheme has reportedly uncovered a trail of financial transactions linked to Elie Bitar and other individuals, some of whom have already been apprehended by the commission.