The Economic and Financial Crimes Commission (EFCC) has officially taken Elie Bitar off its wanted list in connection with the alleged investment fraud involving the now-defunct cryptocurrency platform, Crypto Bridge Exchange (CBEX).
Previously declared wanted in relation to the CBEX fraud case, Bitar was cleared following what the EFCC described as “new information.” In a statement released on May 14, 2025, on its official website, the commission stated.
“Elie Bitar of CBEX Solutions Ltd., who was earlier declared wanted, has been removed from the wanted list due to new information that does not justify his inclusion.”
The EFCC confirmed it continues to pursue eight other suspects linked to the case and is working closely with international law enforcement agencies to facilitate their capture.
CBEX collapsed in April after users encountered issues withdrawing their funds and noticed their account balances suddenly disappearing.
The platform ultimately shut down, leaving thousands of investors unable to recover their investments. Reported losses are estimated to be over ₦1.3 trillion.
Advertisement
