The Economic and Financial Crimes Commission (EFCC) has declared Elie Bitar, a 41-year-old foreign national, wanted for allegedly orchestrating a massive cryptocurrency fraud through the online trading platform Crypto Bridge Exchange (CBEX).
According to an official bulletin released on Wednesday, April 30, 2025, Bitar is accused of masterminding a fraudulent investment scheme that has swindled hundreds of unsuspecting investors across Nigeria, with losses reportedly exceeding $1 billion.
“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),” the notice read.
The commission revealed Bitar’s last known address as Eng. George Enemoh Crescent, Lekki Phase 1, Lekki, Lagos State.
The wanted notice was signed by the EFCC’s Head of Media and Publicity, Dele Oyewale.
The anti-graft agency urged anyone with information on Bitar’s whereabouts to contact any of its zonal offices in Abuja, Lagos, Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Gombe, or Port Harcourt. Tips can also be submitted via phone at 08093322644 or by email at info@efcc.gov.ng.
CBEX attracted investors with promises of quick, high returns but soon drew suspicion over its lack of regulatory compliance and transparency.
The EFCC’s investigation has already led to the arrest and declaration of several other suspects linked to the scheme, as the agency intensifies efforts to track down those exploiting Nigerians through financial fraud.
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