FRAUD: EFCC traces CBEX funds to four countries

The Economic and Financial Crimes Commission (EFCC) says it has traced proceeds from the failed CBEX crypto bridge exchange scheme to at least four countries, noting that full restitution to victims may be impossible.

EFCC Chairman, Ola Olukoyede, disclosed this during an appearance on Channels Television’s Politics Today on Wednesday. He revealed that the agency had frozen a number of accounts linked to the fraudulent scheme and had made significant progress in ongoing investigations.