Man, 58, sentenced to 16 years imprisonment for stealing N12.5m in Osun
An Osun State High Court judge has sentenced one Kayode Adeyefa to 16 years imprisonment over fraudulent activities.
58-year-old Adeyefa faced five count charge for stealing N12.5m from the Osun State College of Education Student Insurance Welfare Scheme which was insured in the insurance company he worked with.
He was accused of collecting fifteen 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.
Adeyefa had told the court when he was arraigned last October that he wasn’t guilty of the crime.
Justice Akin-David Oladimeji, however, found him guilty and sentenced him to five years each on two of the counts.
Oladimeji also sentenced Adeyefa to three years each on counts three and four. The sentence is to run concurrently.
Adeyefa was also told to refund the N12.5m he stole.
