Amid the ongoing narrative surrounding the controversial CBEX cryptocurrency scheme, a significant development has emerged. Justice Emeka Nwite of the Federal High Court in Abuja has now ordered the arrest and remand of six individuals linked to this alleged operation.
These individuals, identified as Adefowora Abiodun Olanipekun and Emmanuel Oku, stand accused of defrauding Nigerian investors of over $1 billion through a company called ST Technologies, the entity reportedly behind the promotion of CBEX.
This legal action follows the Economic and Financial Crimes Commission (EFCC)’s persistent efforts in investigating the scheme, culminating in an ex parte motion. According to the EFCC’s findings in the ongoing saga, “The accused lured unsuspecting Nigerians to invest in CBEX under false pretences, leading to substantial financial losses.”
Explaining further, the agency suggested the alleged scheme may have had international dimensions, stating, “The EFCC has pledged to recover the lost funds, valued at over N1.3 trillion, and has indicated its collaboration with Interpol and other international bodies as part of its investigation into the CryptoBank Exchange scam.”
This court order marks a crucial step in the unfolding CBEX story, signaling a move towards holding those allegedly responsible accountable.