CashNation Boss Kashy has been arrested by the Nigerian Economic and Financial Crimes Commission (EFCC).
Kashy, whose real name is Babatunde Oyerinde Abidoun, was picked up by officials of the EFCC for an alleged involvement in internet fraud.
Kashy is the owner of CashNation Entertainment Ltd., a Lagos-based music record label.
Kashy Abiodun was arrested at his residence in Lekki Conservative Estate, Lagos.
According to a statement released by the EFCC, ‘Kashy’ Abiodun was arrested following intelligence gathered overtime about his suspicious lifestyle.
Part of the EFCC statement reads:
“Abiodun, who shuttles between Nigeria and the United Arab Emirates, UAE, allegedly used the proceeds of his fraudulent activities to fund his lavish lifestyle.”
The EFCC disclosed their investigations linked Kashy’s 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.
The EFCC said they recovered a white 2013 Bentley Continental and Mercedes Benz GLK 350 at the point of Kashy’s arrest.
Kashy Abiodun who is currently being held at the EFCC Zonal Office will appear in court after the EFCC concludes its investigation.