Three promoters of the now-collapsed and fraudulent cryptocurrency investment scheme known as “CBEX” have sought bail from the Federal High Court in Abuja following their detention in connection with an alleged $1 billion scam targeting Nigerian victims.
The legal team for the three suspects, Babatunde Busari and Justice Otorudo, sought bail from Justice Emeka Nwite over the alleged prolonged detention of their clients at the Economic and Financial Crimes Commission (EFCC) facility.
Nairametrics previously reported on April 24, 2025, that the court had ordered the arrest and remand of six promoters of “CBEX” following an EFCC ex parte motion.
