Two jailed for fraud and money laundering after scamming covid-19 loan scheme
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Two Londoners have been jailed for fraud and money-laundering after they scammed banks out almost £300,000 meant for COVID-hit businesses. Timilehin Yvette Olasemo of Romford was sentenced
to three years and two months at Southwark Crown Court on Wednesday for conspiracy to commit fraud by false representation, while Olufumi David Akinneye of Lambeth got five years and six
months for conspiracy to money launder and conspiracy to commit fraud. Olasemo used the stolen identities of ten people to apply for £489,000 in fast-tracked government-backed loans to
businesses to help them through the pandemic lockdown, making off with £297,000 before banks stopped the rest. Akinneye laundered the money through so-called "mule accounts",
paying their owners to let him transfer money through them. > “Today’s result serves as evidence of the zero-tolerance > approach the MPS takes to individuals found guilty of
fraud," said > Detective Constable Chris Collins, of the Metropolitan Police > Service’s North West Economic Crime Unit. “We will continue to > crackdown on individuals who are
found to be exploiting government > schemes for their own monetary gain.”