EFCC Removes Elie Bitar from Wanted List in Crypto Bridge Exchange Fraud Case, Continues Hunt for Other Suspects

 

The Economic and Financial Crimes Commission (EFCC) has recently taken a significant step in its ongoing investigation into the high-profile Crypto Bridge Exchange (CBEX) fraud scandal. The agency announced that it has removed the name of Elie Bitar, a foreign national who was previously declared wanted, from its list of wanted individuals. This development comes after fresh information emerged that no longer supports including Bitar among those sought in connection with the CBEX fraud case.

To give some background, the EFCC had on May 1st declared 41-year-old Elie Bitar wanted over allegations of fraud related to CBEX. The case has been under intense scrutiny as it involves multiple suspects and has affected many Nigerians who reportedly lost substantial amounts of money. The CBEX scandal has been described as a monumental fraud, involving numerous actors who allegedly orchestrated the scam, leaving several victims financially ruined.

However, as of May 14th, the EFCC released an official statement confirming that Elie Bitar is no longer on the commission’s wanted list. Despite this removal, the agency emphasizes that its efforts to bring all those responsible to justice remain unwavering. The EFCC is still actively pursuing the other seven individuals connected to the fraud, ensuring that no stone is left unturned.

The statement from the EFCC reads as follows:

“CBEX: EFCC Intensifies Search for WANTED PERSONS
As part of its ongoing investigations of the alleged monumental fraud involving many actors in the infamous Crypto Bridge Exchange, CBEX, fraud, the Economic and Financial Crimes Commission, EFCC, is gaining important ground in its search for eight wanted persons implicated in the fraud.

The eight wanted persons are: Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, Adefowora Abiodun Olanipekun, Johnson Okiroh Ofienolu, Israel Mbalika, Joseph Michiro Kabera, and Serah Michiro. Elie Bitar of CBEX Solutions Ltd., who was earlier declared wanted, has since been removed from the list owing to new information that does not support his inclusion in the wanted person’s list.

The Commission is making good progress in its investigations. Law enforcement agencies across the world are collaborating with it in tracking and arresting all the wanted persons. The EFCC will not relent in bringing every actor involved in the fraudulent dealings to book.”

This clear statement highlights the EFCC’s firm stance on the matter and shows that the commission is working closely with international law enforcement bodies to ensure that all suspects are located and prosecuted. The collaboration across borders is crucial because many of the suspects have ties outside Nigeria, complicating the investigation.

The CBEX fraud has had far-reaching consequences, with many Nigerians suffering financial losses due to the alleged deceitful activities surrounding the cryptocurrency exchange. The EFCC’s commitment to tracking down all individuals involved reflects the seriousness with which the Nigerian government is treating cyber and financial crimes, especially those affecting vulnerable citizens.

As the investigation progresses, NaijaRush will continue to provide updates on this developing story, ensuring readers are informed about the latest breakthroughs in the case and the efforts to restore justice for the victims of the Crypto Bridge Exchange fraud.