The Federal High Court in Abuja on Monday, has refused the bail applications of three promoters of the now-collapsed and fraudulent cryptocurrency investment scheme known as “CBEX” following their detention in connection with an alleged $1 billion scam targeting Nigerian victims.
Justice Emeka Nwite rejected the bail application in a ruling on Monday.
Nairametrics previously reported that 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.
