Leadnaija
The masterminds behind one of Nigeria’s biggest financial scams have been unmasked. Investigations have revealed the identities of key players in the CryptoBridge Exchange (CBEX) fraud that has wiped out an estimated ₦1.3 trillion in investors’ funds.
The fraudulent investment scheme, which was disguised as a fast-money crypto platform, crashed in April, leaving thousands of Nigerians in financial ruin. Victims say they could no longer access their CBEX dashboards — the final confirmation that the platform had collapsed.
Despite warning signs, many investors remained hopeful, only to face the grim reality that their life savings were gone.
The Economic and Financial Crimes Commission (EFCC) has since launched a full-scale investigation, promising to track down the culprits and recover stolen funds. Meanwhile, the Securities and Exchange Commission (SEC) confirmed that CBEX was never licensed to operate within Nigeria’s capital market.
A detailed investigation by the Foundation for Investigative Journalism (FIJ) has now exposed the key individuals behind the collapsed scheme.
At the center of it all is Harold David Charles, a 55-year-old British national and self-proclaimed wealth manager. Charles introduced CBEX to Nigeria in January 2023 through aggressive media campaigns. He operated under the name ST Investment Co., Ltd., although this entity was never registered in Nigeria.
His affiliate, ST Technologies International, was registered with the Corporate Affairs Commission (CAC) and reportedly issued an anti-money laundering certificate — a move many now believe was meant to legitimize the scam.
Other companies tied to the scheme include Smart Treasure and Super Technology, both bearing the “S.T.” branding pattern used across the network of shell entities.
Among the Nigerian promoters identified are:
- Adefowora Abiodun
- Oluwanisola Adefowora (suspected to be either siblings or a couple)
- Seyi Oloyede
- Emmanuel Uko
These individuals were instrumental in pushing the scheme across social media and online forums, luring unsuspecting Nigerians into the trap.
As investigations continue, many of the alleged promoters remain silent and out of public view, while victims are left to pick up the pieces of their shattered finances.
Authorities are urging the public to come forward with any information that could assist in the ongoing probe.
Stay with Leadnaija News as we continue to follow this developing story and bring updates on efforts to bring the CBEX scammers to justice. Read More>>
Source: Gistreel
