A key suspect allegedly involved in a massive $1 billion cryptocurrency fraud linked to the CBEX investment platform has voluntarily surrendered to the Economic and Financial Crimes Commission, EFCC.
The suspect, identified as one of the chief promoters of the now-defunct CBEX scheme, reportedly turned himself in at the EFCC headquarters in Abuja following intensified investigations and nationwide manhunts for key actors behind the fraudulent operation.
According to EFCC sources, the suspect had been on the commission’s watchlist after multiple petitions were submitted by victims who claimed they were lured into investing millions in what was advertised as a high-yield digital asset platform.
The scheme allegedly operated under the guise of cryptocurrency trading and blockchain investments, promising unrealistic returns within short periods.
Preliminary investigations revealed that thousands of Nigerians and foreign nationals were affected by the scam, with total losses estimated at over $1 billion.
CBEX was reportedly run through an elaborate network of promoters and online marketers who used social media, webinars, and referral programs to attract investors.
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Speaking on the development, EFCC spokesperson Dele Oyewale confirmed the surrender but declined to disclose the suspect’s identity for operational reasons.
“We can confirm that one of the primary suspects linked to the CBEX fraud has surrendered to the Commission. Investigations are ongoing, and we are working to trace other collaborators as well as recover stolen assets,” he said.
Sources within the commission indicated that the suspect is currently cooperating with investigators and has provided valuable leads that could unravel the full extent of the scheme’s operations, including potential foreign accomplices and money laundering channels.
The EFCC also urged members of the public with credible information about CBEX promoters or affected investors to come forward and assist with ongoing investigations.
The CBEX case is one of the largest cryptocurrency-related frauds in Nigeria’s history and highlights the growing concerns around digital asset schemes operating without regulation or oversight.
Crediblenewsng.com
