The High Court sitting in Akure, Ondo state capital, has sentenced a former Vice Chancellor of Elizade University, Ilara-Mokin, Ondo state, Prof. Adekunle Oloyede to five years’ imprisonment for $720,000 fra¥d.
The judge, Justice Aderemi Adegoroye jailed the professor after finding him guilty on all the six counts of false pretences, stealing and fra¥d contrary to the anti-graft laws of the state.
The accused, Oloyede was said to have fraudulently obtaining the sum $720,000 for the construction of 500-bed space at the school, while he also obtained the sum of $250,000, $150,000,and $620,000 at different times. The money was collected from Mike Ade Investment limited for Duro Global Property under false pretence of using the amount for the construction of hostel for the institution.
The Professor of Medical Engineering was dragged before the Court by the State Legal Officer, represented by Mr O.E Akintan who told the Court of the accused of conspiracies to st£@l and to obtain by false pretence contrary to and punishable under section 516 of the criminal code.
The former Vice Chancellor of Elizade University however, pleaded not guilty to the six-count charge, arguing that the court lacked jurisdiction to hear the allegation against him. In the evidence before the court, several amounts running into millions in foreign currency was paid into the account linked to Oloyede and his cronies for the importation of panel for the construction of hostel for students of the university.
The Court was told that despite the payment for the panel and for the shipment of the materials from Australia to Ilara-Mokin in Ondo State, the former Vice Chancellor of the institution failed to execute the projects, leading to his arrest and prosecution for alleged fraud by the state government.
