Man Bags 16 Years Jail Term For Insurance Fraud

Man Bags 16 Years Jail Term For Insurance Fraud

Justice Akin- David Oladimeji of the Osun State High Court sitting in Ede, Osun State has convicted and sentenced one Kayode Adeyefa, 58, to Sixteen years imprisonment on four-count charge bordering on obtaining money under false pretences and stealing.

Justice Oladimeji, in his ruling, convicted and sentence the convict to five years each on counts one and two. He sentenced him to three years each on counts three and four. However the sentence is to run concurrently. 

The court also ordered the convict to pay back theN12, 559.800 (Twelve Million, Five Hundred and Fifty Nine Thousand Eight Hundred Naira) he stole from the Osun State College of Education Student Insurance Welfare Scheme to the Osun State College of Education.

The convict who was arraigned by the Ibadan Zonal office of the EFCC, on Monday, October 24, 2016 had pleaded not guilty to the four-count charge preferred against him.

Kayode’s journey to prison followed a petition to the Economic and Financial Crimes Commission, EFCC, alleging that he stolen the sum of N12, 559.800 belonging to the Osun State College of Education Student Insurance Welfare Scheme which was insured in the insurance company he works with. 

The petitioner further stated that the convict had collected 15 cheques of different amounts to the sum of N12,559,800 from the scheme for onward delivery to the insurance headquarter in Lagos.

He later cashed all the cheques issued to him by the college for himself. When the scheme approached the insurance company, there was no record of their money.