The Economic and Financial Crimes Commission (EFCC) has arraigned two individuals, Ifeanyi Emmanuel Ogbonna and Henry Sunday Obasi, before Justice Emeka Nwite of the Federal High Court in Abuja, Nigeria over alleged investment fraud involving a cryptocurrency trading platform known as CBEX Global Investment Limited.
SCAM ALERT | Kenyans Count Losses on CBEX Crypto and Forex Trading Platform
“Today morning, I woke up with like $6,000 (KES 777,680) in my crypto wallet. But at around 7 PM, it had been cleared to zero.”https://t.co/h1ZWFjfKZa @KeTreasury @CMAKenya @CBKKenya @DCI_Kenya pic.twitter.com/0h7jq8cRXg
— BitKE (@BitcoinKE) April 16, 2025
The duo were arraigned on July 8 2025, on a 10-count charge bordering on conspiracy and obtaining money under false pretence.
According to the EFCC, Ogbonna and Obasi allegedly conspired with one Chiamaka Obasi (now at large) and others between 2021 and 2022 to defraud unsuspecting investors of substantial sums of money by falsely claiming they were registered fund managers with the Securities and Exchange Commission (SEC) of Nigeria and operated a legitimate investment platform.
Count one of the charge reads: “That you, Ifeanyi Emmanuel Ogbonna and Henry Sunday Obasi, sometime between 2021 and 2022 at Abuja, within the jurisdiction of this Honourable Court, with intent to defraud, conspired amongst yourselves to obtain monies under false pretence from unsuspecting members of the public through your company, CBEX Global Investment Limited, and thereby committed an offence contrary to Section 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”
[TECH] REGULATION | EFCC Nigeria Releases List of 8 Nigerians and Kenyans Alleged to Be Behind CBEX Fraud: The Nigeria Economic and Financial Crimes Commission (EFCC Nigeria) has issued a wanted notice for e.. https://t.co/CJRsxzwmti via @BitcoinKE
— Top Kenyan Blogs (@Blogs_Kenya) April 28, 2025
They pleaded not guilty to all charges.
In response, the prosecution counsel, Olanrewaju Adeola, requested a trial date and urged the court to remand the defendants in a correctional facility pending trial.
However, defence counsel, Benjamin Ogbuiyi, informed the court of his pending bail application and asked the court to grant his clients bail.
Justice Nwite adjourned the matter until July 18 2025 for hearing on the bail application and ordered that the defendants be remanded at the Kuje Correctional Centre.
Stay tuned to BitKE for deeper insights into the evolving Nigerian crypto space.
Join our WhatsApp channel here.
Follow us on X for the latest posts and updates
Join and interact with our Telegram community
________________________________________________
