Human resources boss faces jail after trying to claim £ 240,000 in Covid support rebound loans.

Timilehin ‘Yvette’ Olasemo, 38, has filed eight separate claims for £ 30,000 bank loans on behalf of his employer Essex Cares Ltd, Southwark Crown Court has said.

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Timilehin ‘Yvette’ Olasemo has made eight separate claims for £ 30,000 in bank loans

Olasemo has also been accused of helping her friend Olufemi Akkineye, 33, to commit a “romance scam” by befriending men on dating sites.

Wearing a white polka-dot dress, Olasemo admitted to conspiring to commit misrepresentation fraud in connection with the Bounce Back Loan Scheme (BBLS) claims at Southwark Crown Court on Thursday.

Prosecutor Gareth Munday said her friend Akinneye created a profile of a woman calling herself Catherine Adams with fake photos to convince potential suitors to send “her” money.

‘FRAUD ROMANCE’

“They contacted men posing as Catherine Adams and Ms. Olasemo was the female voice to talk to them,” he said.

Akkineye also defrauded businesses and individuals by diverting legitimate payments to bank accounts owned by him and other fraudsters between 2014 and 2020, the court said.

Janice Brennan, defending Olasemo, called for reports to be prepared before she is sentenced and said: go and deal with them. “

Postponing the sentence until November 27, Judge Alexander Milne told the couple: “You will be remanded in custody.

“I ordered pre-sentence reports to be prepared for both.

Olasemo, from Romford, admitted to conspiring to commit fraud by misrepresentation.

She denied the fraud against the dating site scam and the charge was filed.

Akinneye, whose address was given to Wandsworth Prison, admitted two counts of conspiracy to commit false representation fraud and one count of money laundering.

They were remanded in custody until November 27.

RISHI’S REBOUND SCHEME

In April, Rishi Sunak announced a small businesses could obtain interest-free loans of up to £ 50,000 under an emergency micro-loan scheme.

This meant that businesses would get loans worth up to 25% of their turnover, up to a maximum of £ 50,000, with cash arriving within 24 hours of the request.

As of October, more than £ 38 billion in rebound loans had been loaned to around 1.3 million businesses.

The government guaranteed the loans and promised to cover the interest payments for the first year.

But analysis of the scheme has since shown that “much more” than £ 2 billion could already have been paid to the fraudsters.

The National Audit Office said the high risk of fraud and default was due to the lenient criteria – designed to give businesses quick loans to keep them from going bankrupt during the Covid crisis.

And there are fears that fraud and bankruptcy could cost Rishi Sunak’s flagship program £ 26bn.

UK economy has experienced record growth of 15.5% in past three months as it emerges from recession caused by Covid


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