Latest Metro

EFCC arrests music record label CashNation boss over alleged internet fraud

Operatives of the Economic and Financial Crimes Commission (EFCC), Lagos zonal office have arrested one Babatunde Oyerinde Abidoun, also known as Kashy, over alleged involvement in cybercrimes.

A statement on Monday by Dele Oyewale, Head, Media and Publicity of the EFCC, said that Abiodun, who is the owner of CashNation Ent. Ltd., a music record label, was arrested recently at his residence in Lekki Conservative Estate, Lagos.

“His arrest followed intelligence gathered overtime about his suspicious lifestyle.

“Abiodun, who shuttles between Nigeria and the United Arab Emirates, UAE, allegedly used the proceeds of his fraudulent activities to fund his lavish lifestyle.

READ ALSO: EFCC arrests man for alleged attempted N1.5m fraud, impersonation

“Investigations linked his fraudulent activities to his domestic staff, Thomas Aliu Akwu, who confessed to having different accounts domiciled in UBA, Ecobank, GTB, Zenith Bank and FCMB and also receiving money for his boss through the accounts,” Oyewale said in the statement.

Items recovered from the suspect at the point of arrest included a white 2013 Bentley Continental and Mercedes Benz GLK 350.

The EFCC spokesman added that the suspect would soon be charged to court as soon as investigations are concluded.

Join the conversation


About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.

Do NOT follow this link or you will be banned from the site!