CBEX Scam: Fresh Twist as Wanted Promoter Surrenders to EFCC
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Legit.ng journalist, Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
FCT, Abuja - Adefowora Abiodun, one of the wanted promoters of the cryptocurrency trading platform, Crypto Bridge Exchange (CBEX) has surrendered himself to the Economic and Financial Crimes Commission (EFCC).
Legit.ng recall that EFCC declared 8 CBEX promoters wanted over alleged involvement in a fraudulent investment scheme valued at over $1 billion.
Source: Twitter
The anti-graft agency released information about their addresses and photos.
Adefowora Abiodun Olaonipekun
According to the EFCC, Adefowora is 44 years and his last known address is at 13, Jimoh Odutola, Ogunpa, Ibadan, Oyo State.
There is another suspect with the name Adefowora
Adefowora Oluwanisola
Oluwanisola is 37 years old and her last known address is at 13, Jimoh Odutola, Ogunpa, Ibadan, Oyo State.
Abiodun voluntarily surrendered himself to the anti-graft agency on Monday, April 28, 2025.
As reported by The Punch, Abiodun, accompanied by his lawyers, turned himself in at the EFCC headquarters in Abuja at around 4:00 p.m. on Monday.
The CBEX promoter expressed his willingness to cooperate with the EFCC.
Counsel to the suspect, Babatunde Busari, explained the reason his client decided to submit himself for investigation.
Busari said Abiodun voluntarily surrendered himself to the EFCC to clear his name.
He added that also to correct the false narrative being widely circulated in the media.
Court grants EFCC's request to arrest CBEX operators
Earlier, Legit.ng reported that the request of the Economic and Financial Crimes Commission (EFCC) to arrest and detain six CBEX promoters was granted.
Justice Emeka Nwite of the Federal High Court in Abuja gave the EFCC the go-ahead to arrest and detain the CBEX staff members on Thursday, April 24, 2025.
The EFCC’s lawyer, Fadila Yusuf, had earlier moved an ex parte motion to the effect, seeking two prayers from the court.
CBEX scam: EFCC, SEC take action against Ponzi schemes
Legit.ng also reported that EFCC said CBEX investors were going to get their money back.
The Securities and Exchange Commission (SEC) said it would commence investigation as to where the operators were and hunt them down.
The two federal government agencies vowed to hunt down operators of Ponzi schemes across the country.
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Source: Legit.ng
