According to reports, the 60-year-old Accountant/Pastor who earned £57,000 annually worked for seven years as the accountant of Haberdashers’ Aske’s state schools in Britain.
However, Kayode who leaved a luxury life above his means was exposed in 2012 after a whisteblower reported him to the chief financial officer of the school.
During his arrest, It was reporte he had:
“..he had a new Mercedes, a new £40,000 Infiniti luxury car, an Audi TT sports car, at least four properties in Britain and more in Nigeria. He had also made plans to move permanently to Africa with his younger second wife.”
He has been charged and now is facing
charges of “obtaining £150,000 by theft and £3.95million by fraud” at
the Woolwich Crown Court in South London.
On how he was able to move the said amounts:
“Kayode was able to move huge sums of school money through the BACS financial system, allegedly arranging it so he alone could authorise payments rather than the usual system requiring two signatures.Analysis of Kayode’s work computer and other material revealed his lavish spending and how money had been transferred directly from the school into his private joint account with his wife in London, Grace, who died aged 53 in 2013. Stolen money funded private healthcare for her, it was claimed. It was alleged that more money was ‘laundered’ by being moved on to a Nigerian business called Samak – after his own name, Sam A Kayode.“
It is believed that the fraud is Britain’s IIt education fraud.”
Kayode’s trial continues…
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