Elie Bitar, Lebanese national declared wanted by EFCC over CBEX fraud
Elie Bitar, a 41-year-old Lebanese national has been declared wanted by the Economic and Financial Crimes Commission (EFCC) has declared a 41-year-old man wanted over an alleged fraud linked to the online trading platform, Crypto Bridge Exchange.
In a statement posted on its official X handle and signed by its Head of Media and Publicity, Dele Oyewale, the EFCC revealed that the suspect, Elie Bitar, was last known to reside in Lekki Phase 1, Lagos State.
The statement reads: “The public is hereby notified that ELIE BITAR, whose photograph appears above, is wanted by the Economic and Financial Crimes Commission (EFCC) for fraud allegedly perpetrated on an online trading platform called Crypto Bridge Exchange (CBEX).
“Bitar is 41 years old and his last known address is at Eng. George Enemoh Crescent, Lekki Phase 1, Lekki, Lagos State.”
The commission urged anyone with information on Bitar’s whereabouts to contact its offices across Nigeria, including in Ibadan, Uyo, Sokoto, Maiduguri, Benin City, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt, and Abuja. It can also be reached via telephone at 08093322644, email at [email protected], or through the nearest police station or relevant security agency.
In April, numerous Nigerians took to social media, sharing videos and raising alarm over losing their investments following the reported collapse of the CBEX platform.
As investigations unfolded, the EFCC declared eight individuals wanted in connection with the fraudulent scheme. The Federal High Court in Abuja subsequently granted the agency’s request to arrest and detain suspects found promoting CBEX.
Justice Emeka Nwite issued the detention order after EFCC counsel Fadila Yusuf petitioned the court, seeking permission to hold the suspects pending the conclusion of investigations and potential prosecution.
The EFCC further disclosed that its probe revealed ST Technologies, though registered with the Corporate Affairs Commission, lacked authorization from the Securities and Exchange Commission to offer investment services.
To ensure the suspects face justice, the EFCC argued for a warrant of arrest to place them on a red notice, aiding their capture. The commission also stated that it had established a prima facie case of investment fraud, emphasizing that approving its application was essential to serve the interests of justice.
