The accused told the court that he was set up by his wife and a colleague from work. He stated it was an act of revenge in connection to an adultery allegation.
Kayode, described as a part-time pastor and accountant, was convicted for defrauding Haberdashers’ Aske’s State Schools of the amount.
Punch reported that the Nigerian man was found guilty of £150,000 theft and £3.95million fraud, despite his annual income of £57, 000.
The court in its ruling stated that Kayode was a dishonest and greedy man, who spent the stolen funds on four women.
He also acquired expensive cars such as a Mercedes, an Audi TT sports car and an Infiniti car with the money, according to British prosecutor, James Thacker.
In his defence, the accused blamed his late wife and a work colleague for attempting to ruin his public image by transferring the amount into his bank account.
According to him, it was their revenge for an allegation of adultery.