The Economic and Financial Crimes Commission has removed the name of the foreigner, Elie Bitar from the wanted list which it had posted following an alleged investment fraud linked to CBEX.
In an update which the anti-graft agency tagged ‘new information’, dated May 14, 2025 and posted on the its website which NEWSMAXNG obtained on Wednesday, it stated that Bitar has been excluded from the wanted list.
However, the agency stressed that it is still intensively searching for eight other wanted persons linked to the collapsed cryptocurrency exchange.
It said; “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.”
Recall that, in April, 2025, the CBEX platform collapsed after users experienced some lags which made many tag it a Ponzi scheme and a scam.
Before then, the EFCC had published 58 list of rising Ponzi schemes in Nigeria and warned Nigerians to stay away from them, the list included CBEX trading platform.
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Somehow, in April, users’ balances disappeared and the platform became inaccessible. Overtime, some users and investors came out to cry over their funds in millions and thousands which they could no longer access.
Some promoters of the platform were declared wanted while some were apprehended.
However, after some time, CBEX came back after it had laid around inaccessible for a while, asking users to invest some more money to access the ones they could not access earlier.
Many investors, majority of whom were Nigerians lost an estimate total of N1.3 trillion as some would go as far as harming themselves.
