Romford: Man Jailed For Money Laundering
An Essex man has been jailed for money laundering following a £2.3million fraud against the Olympic Delivery Authority.
Ayodele Odukoya, 42, of Paignton Close, Romford, was sentenced to three years and nine months in jail after being found guilty of two charges of money laundering in relation to the fraud.
Abayomi Olowo, 48, of Windsor Road, Harrow, north west London, who was found guilty of four money laundering offences, received a prison sentence of four-and-a-half years.
Judge Martin Beddoe, sentencing Odukoya and Olowo, said: "As the jury has found, both of you were ready and willing participants in the scheme to launder £2.3 million stolen from the Olympic Delivery Authority (ODA).
"It is of course, a very significant sum of money.''
He added: "I am told of the inevitable effect on your families as a consequence of what you did. I take the view that is something you should have thought about before you embarked upon this determined involvement in crime."
Six other people, including two women, were cleared by jurors of money laundering charges in relation to the fraud.
A third man, Ansumara Kamara, pleaded guilty to a series of money laundering charges in 2010 and was sentenced last year to three-and-a-half years in jail.
The convictions and sentencing come after Southwark Crown Court was told a gang of fraudsters tricked the ODA out of £2.3 million.