Aggrieved investors count losses amid CBEX crash

• as Police take over office complex in Ibadan

Aggrieved investors have besieged the office of CBEX in Ibadan over a reported loss of investment running into billions of naira.

CBEX, as reliably gathered trades in cryptocurrency but could not be confirmed whether it is registered with the Security Exchange Commission, (SEC).

CBEX, a Ponzi scheme lured investors with a daily mouth-watering turnover.

The maturity date of investment, as reliably gathered is 35 days after which investors can withdraw their deposit or keep their investment in order to maximize profits.

However, the investors were made to swallow bitter pills with the reported crash of the investment that culminated into loss running into billions of naira.

The victims are yet to come to terms with the situation as they are still hoping that it would be revived.

One of the victims who craved anonymity explained that he invested his retirement benefits from the bank in the scheme.

“My initial plan is to invest the gains accrue from the scheme in a particular business. I, even, encouraged my wife to do the same.

“My wife invested 7,000 dollars in the scheme. We are finished. We have lost all that we have laboured for in life.

I regret investing my life savings on the scheme now that all is gone. I even regret encouraging my wife to invest all her savings on the scheme.All we have is gone.

Another investor who identifies himself as , Olubiyi Ojewale explained that he invested on the scheme with the money meant to renew his tenancy.

According to him, My house rent is due for payment in February but I begged his landlord to give me till 9th of May when I must have withdrawn from my savings.

I 300 USdollars on 4th of April with the hope of making first withdrawal on 9th of May but the scheme unfortunately crashed on 15th of April .

“I am finished, I will be homeless from next month because I have invested all the money saved to renew my annual house rent on CBEX.

“I won’t lie to you it will affect me in many ways because I don’t have any other way of raising the money for now.

I don’t know what to tell my landlord by next month after I have already begged for three months. Greed has killed me.

“If I had known I would have paid my house rent instead of investing the money. Where will I raise money if I am served quit notice over failure to pay the rent?

“I am scared I will be homeless soon. If I am permitted to stay here, I will bring my belongings here to their office here in Oke Ado since I am about to be homeless due to my investment in the scheme“.

Another investor, Fola Olaoye explained that he had put his phone on flight mode since he heard the news of the crash.

He added that he introduced his Landlord who invested 1000 dollars approximately about 1,600,000 million naira to the scheme.

He added his landlord enlisted his son who invested 6000 US dollars about 1 million naira in the scheme

“I invested 600 US dollars as well as persuaded my landlord to invest in the scheme alongside his son.

They invested a total sum of 1600 US dollars in the scheme but unfortunately they had not withdrawn neither their capital nor profit before it crashed.

“I have to put my phone on flight mode to avoid his calls, I don’t know how to face him now, I am scared this will affect our relationship and he might send me away from his house“.

Also in an interview with our reporter, another investor Olaoluwa Adebayo stated that he invested with 15000 US dollars after his return from United Kingdom.

He added that the money was meant to start up a business here but he decided to invest in the scheme first before starting the business.

He added that he didn’t believe in the scheme because he was a forex trader when he was in the UK but was convinced after his friend here in Nigeria withdraw 11000 US dollars from the scheme in his presence , so he was later convinced and invested with 15,000 US dollars .

“ I invested with 15000 US dollars after my return from the United Kingdom and the money was meant to start up business here in Nigeria but I decided to invest in the scheme first before starting the business, at first I didn’t believe in the scheme because I also trade in forex but I invested in it after my friend here in Nigeria withdraw 11000 US dollars from the scheme in my presence, so this convinced me and invested 15,000 US dollars on it , I withdrew my money before investing the money back on the scheme, but sadly our money is gone.“

Meanwhile, the Police have taken over ST team, Office complex of CBEX at Oke-Ado in Ibadan.

The Police source told our correspondent that the decision was taken in order to prevent looting of the equipment by the enraged investors.

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