The Economic and Financial Crimes Commission (EFCC) has taken Elie Bitar, a foreign national, off its wanted list for crypto bridge exchange (CBEX) fraud.
On April 30, the EFCC declared Bitar wanted for alleged fraud on the CBEX trading platform. They posted his wanted notice on social media.
In the notice (now deleted), the EFCC said Bitar was 41 years old and lived at “Eng. George Enemoh Crescent, Lekki Phase 1, Lekki, Lagos State.”
In April, CBEX users reported they couldn’t withdraw their money. Many Nigerians who invested in the platform lost their funds.
Earlier, the EFCC had declared eight Nigerians wanted for the alleged CBEX fraud: Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro.
The Foundation for Investigative Journalism (FIJ) recently published a report stating the EFCC made a mistake by declaring Bitar wanted. The report showed Bitar’s company, CBEX Solutions Limited, just happens to have a name similar to the fraudulent scheme.
Bitar co-founded CBEX Solutions Limited, which conducts retail studies for fast-moving consumer goods (FMCG) companies.
On Wednesday, EFCC spokesperson Dele Oyewale announced that the agency had removed Bitar’s name from the wanted list due to “new information.”
“Ellie 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 persons’ list,” the statement reads.
“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.”
Oyewale said the EFCC is “gaining important ground” in the search for the eight persons still wanted for the CBEX fraud.
