An accountant at a chain of academies championed by Michael Gove is at the centre of a fraud investigation after £4million of school funds ended up in his personal accounts.
Nigerian-born Samuel Kayode is said to have spent much of the cash on an extravagant lifestyle and buying a string of properties according to reports in Daily Mail.
The 57-year-old part-time pastor was told by the High Court to pay £4.1million back to the Haberdashers’ Aske’s chain of academies more than a year ago. He has failed to do so, and it is feared most of the cash has been transferred to Nigeria.
The case, kept secret for almost two years, is believed to be Britain’s biggest ever education fraud. Although Kayode was arrested in October 2012, police have yet to charge him with any crime. Critics of academies – state schools which have control of their own finances – say the massive loss of cash calls that entire system into question.
Questions were also asked about whether Mr Gove – who lost his job as Education Secretary last week – took close enough interest in the case. Kayode went to work at Hatcham in 1997 and rose to become accounts manager for the whole chain. He was paid £57,000 a year, and told colleagues of his work as a pastor in the Christ Apostolic Church, South London, peppering his conversations with ‘praise the Lord’.
In October 2012 it emerged that a large sum of money was missing from the academies’ funds. Kayode’s assets and those of his wife Grace, who died aged 53 last year, were then frozen. It appeared that huge sums of school money had been paid into a bank account in Nigeria and a company called Samak, which is said to be run in Nigeria by Kayode’s second wife Yoni, although he denies any wedding has taken place.
The trust launched a High Court case to reclaim the missing cash but the accountant denied wrongdoing and claimed ‘all transactions had been authorised by the finance director’.
However, the judge found in the trust’s favour last July and ordered Kayode and the estate of his late wife to pay back more than £4million plus interest. He remains at large and is not facing any charges, although he is due to speak to detectives again this week.
I specialize in investigative reportage across several subject matter and sectors but mainly focus on metro events and investigation. Do leave your thoughts and opinion on my reports to let me know what you think about them. Thank you
Posted: at 21-07-2014 03:07 AM (9 years ago) | Addicted Hero
osamabinladin at 21-07-2014 04:23 AM (9 years ago) (m)
Not good to hear !
Posted: at 21-07-2014 04:23 AM (9 years ago) | Hero
dynasty4all at 21-07-2014 08:28 AM (9 years ago) (m)
YORUBAS CAN NOT DO WITHOUT FRAUD, FOGERY, RITUALS BABA ALAWOSSSSS ETC THEY INHERITED FROM THEM FROM THEIR FOREFATHERS TUNUBI FORGED HIS SON INLAW CERFITICATE & OTHERS
Posted: at 21-07-2014 08:28 AM (9 years ago) | Gistmaniac
I said it what can u expect from this most atrocious tribe voodoo name it corruption, evil, thief that is all with Tinubu having fifteen bank account Obasanjo money seized in Austra Yoruba only tje name alone make u ask question who are this people where do they come from. They need to be wipe out of tjis planet
Posted: at 21-07-2014 09:55 AM (9 years ago) | Upcoming
Am not yoruba but I hate it wen some eaterners keep dis tribalism up as a normal thg. Its wrong. If u can't stay wit human being then relocate to d bush. Wat nonsense. Mcthewwww
Posted: at 21-07-2014 03:18 PM (9 years ago) | Addicted Hero
osamabinladin
zeigbo
seveneleven
angesco
elmatado
Freshlycrazy
bucknx
beejaybabs
Larry28
gmarley
ngfineface
doncoyon
Nicksam
dareper
winace
TRENDING GISTS 
How Yahaya Bello Moved $720k From Govt Account to a BDC - EFCC Boss, Olukoyede Narrates (VID)
Family of Late Sound Engineer Have Refused to Exhume His Body From Riverside Despite Donations
Ondo Police Arrests Man Who Said He Saw Fetish Items in Car of 'Yahoo Boy' That Led to His Lynching by Mob
30 Year Old Man, Jeffery Caught Defiling His Landlady's 13 Year Old Daughter In Rivers