EFCC Arrests CashNation Boss ‘Kashy’ For Alleged Internet Fraud

The Owner and Chief Executive Officer (CEO) of a Music Record label, CashNation Ent.Ltd, Babatunde Oyerinde Abidoun, also known as Kashy, has been arrested by operatives of the Lagos Zonal Office of the Economic and Financial Crimes Commission (EFCC).

Kashy was arrested at his residence in Lekki Conservative Estate, Lagos, by the anti-graft agency for his alleged involvement in cyber crimes.

An EFCC statement issued on Monday, said the arrest of the music label boss followed “intelligence  gathered overtime about his suspicious lifestyle.”

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

It said “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 received money for his boss through the accounts.

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

“The suspect will soon be charged to court as soon as investigations are concluded.”