Nigerian Court Greenlights Arrest of Six CBEX Promoters Over Investment Fraud

A Nigerian high court has granted the country’s Economic and Financial Crimes Commission (EFCC) authority to arrest six individuals suspected of running investment fraud at Crypto Bridge Exchange (CBEX). The defendants are accused of defrauding investors out of over 1 billion naira, or roughly $620,000. The suspects allegedly promoted CBEX using their company ST Technologies International Limited and another platform known as Crypto Bridge Exchange, luring unsuspecting individuals to invest in the exchange’s platform.