The Economic and Financial Crime Commission (EFCC) said it has begun an investigation into alleged N1.3TN fraud conducted through the digital investment platform Cryptobank Exchange, known as CBEX.
CBEX collapsed on Monday, April 14, and thousands of investors were heartbroken due to lack of funds, many of whom besieged the platform’s Lagos and Ibadan offices.
EFCC spokesman Dele Oyewale responded to the development, saying the anti-grafting agency will join forces with the International Criminal Police Organization to investigate the incident. According to Oyewale, CBEX has been investigated before the crash.
He added that the commission is working to ensure local and international operators behind the arrest of the fraud scheme.
“We had intelligence before the incident happened. We were already working on it, but now the plan collapses and the main actors and their collaborators will be brought in.
We will make sure we save Nigerians from all these troubles associated with the Ponzi scheme. Don’t forget that we have posted a consultation – 58 companies we remind the public. We are currently investigating more.
We are actively dealing with the CBEX situation. We will work with other regulators to ensure protection of Nigerians from such programs.
We will do our best – to restore where possible, we will recover; where possible prosecution, we will sue. Overall, we will do our best. In addition, similar frauds are happening across the country, and people don’t know that we are trying to discover them.
We are doing it locally as we work with Interpol to track foreign operators.
