Investigations by FIJ have revealed the faces of key individuals behind CryptoBridge Exchange (CBEX), a fraudulent investment scheme that scammed Nigerians out of an estimated N1.3 trillion.
CBEX, initially marketed as a quick way to make money without economic value, crashed in April, leaving investors devastated.
As reports emerged, many were unable to access their profile dashboards, confirming the scheme’s collapse.
Despite the growing evidence, many remained in denial until it became clear that their funds had been locked away.
Following the crash, the Economic and Financial Crimes Commission (EFCC) launched an investigation into CBEX, vowing to recover the lost funds.
Additionally, the Securities and Exchange Commission (SEC) confirmed that CBEX was unlicensed, having never received approval to operate within Nigeria’s capital market.
FIJ’s investigation has identified several individuals who played major roles in promoting the scheme. CBEX was linked to ST Investment Co., Ltd., owned by Harold David Charles, a 55-year-old Briton.
Charles, presented as a wealth management expert, introduced CBEX to Nigeria through media campaigns in January 2023.
The company itself was not registered, although its affiliate, ST Technologies International, was registered with the Corporate Affairs Commission (CAC) and issued an anti-money laundering certificate.
The scheme’s other affiliates included Smart Treasure and Super Technology—dubious names with a consistent use of “S.T.”
Among the identified promoters are Adefowora Abiodun and Oluwanisola Adefowora, whose close association suggests they may be siblings or a couple. Other key figures include Seyi Oloyede and Emmanuel Uko.
While the promoters continue to evade questions, investigations into their operations continue.
The aftermath of CBEX’s collapse has left many investors grappling with financial losses, and authorities are working to bring those responsible to justice.
