By Tgnews
In a shocking turn of events, Olayiwola Oguntade, a former staff member of the Joint Admission and Matriculation Board (JAMB), has been sentenced to five years in prison for his involvement in a N10 million fraud scheme. The conviction, handed down by Justice Bayo Taiwo of the Oyo State High Court, serves as a stark reminder of the consequences of greed and deception.
Oguntade’s journey to the Nigerian Correctional Center began when he forged a Local Purchase Order (LPO) and Letter of Domiciliation, obtaining a loan of N10 million from Polybadan Microfinance Bank under the false pretence of executing a contract for internet services. He deceived a friend, K. Ola Al-Amin, into presenting the forged documents to the bank, and the loan was secured.
The funds were then transferred to three companies’ bank accounts, with Oguntade claiming they were payments for equipment and installations. However, investigations revealed that the convict had earlier issued forged LPOs to these companies and needed the N10 million to pay back loans he had also fraudulently obtained.
The prosecution has proved its case beyond reasonable doubt, and the court is convinced that the defendant is guilty of the offences filed against him by the EFCC
The prosecution, led by Oyelakin Oyediran and Lanre Suleiman, presented a strong case, calling 10 witnesses and tendering incriminating documents that were admitted as evidence. Justice Taiwo’s judgment was clear: “the prosecution has proved its case beyond reasonable doubt, and the court is convinced that the defendant is guilty of the offences filed against him by the EFCC.”
Oguntade’s conviction serves as a warning to those who would engage in fraudulent activities, and his five-year prison sentence is a testament to the seriousness with which the courts view such crimes.