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Daily Mail
July 23, 2014
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.
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.
The vast sum of money is missing from the Haberdashers’ Aske’s Federation Trust in South London.
It is named after 17th century silk merchant Robert Aske who left much of his wealth to create an educational charity fund run by the Worshipful Company of Haberdashers.
The Haberdashers’ Aske’s public schools for boys and girls in Hertfordshire were founded with his money.
Three Haberdashers’ Aske’s state secondaries in South-East London – Hatcham College, Knight’s Academy and Crayford Academy – are run by the trust as a separate charitable wing funded by Mr Aske’s endowment. They were often referred to by Mr Gove in speeches.
