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The Economic and Financial Crimes Commission (EFCC) has launched an investigation into the activities of the billionaire business mogul, Kessington Adebutu, popularly known as Baba Ijebu, for alleged tax fraud and economic sabotage.
Reports according to Premium Times has it that detectives from the Commission’s office in Lagos on Tuesday, January 28, 2020 arrested the son of the gambling mogul, Segun Adebutu for questioning.
The EFCC officials, according to the online platform, said Adebutu’s business activities became a subject of their suspicion following a petition from another betting company, Western Lotto, operated by a former Senator from Ogun East Senatorial District, Buruji Kashamu.
The online platform quoted EFCC sources as saying that they have identified N5 billion revenue that should have been remitted to the federal government but was allegedly kept aside by the company.
The probe might be expanded to include other betting companies and investigate claims of sharp practices and how some firms allegedly withhold funds from winning customers.
The EFCC has not filed any charges against Premier Lotto.