Man jailed for his part in £1.5m student loan scam
- 14 December 2013
- From the section Manchester
A man has been jailed for his part in a £1.5m phishing scam targeting students.
Olajide Onikoyi, of Manchester, was among a group who sent emails inviting people to update student loan details via a bogus website.
When the site was accessed, Onikoyi was able to access their bank accounts and extract large amounts of money.
He admitted conspiracy to defraud UK financial institutions of £393,000 and was sentenced to three years in prison at Southwark Crown Court on Friday.
The 29-year-old Nigerian national also admitted money-laundering.
He had 238 victims in total. One person had £19,000 taken.
When police from the Metropolitan Police Central e-Crime Unit seized his computer, they found chat logs from cyber crime forums that revealed he was conspiring with criminals in Russia, Lithuania and elsewhere in the UK,
A number of other people have also been jailed over the scam.
Heather Laing, from the Student Loans Company, said: "It is absolutely vital for students to protect themselves and their finances by keeping personal and account information safe.
"We will never request a customer to provide or confirm their account or banking details by email or text."