The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, and a Nigerian pastor, Edward Oluwasanmi, are facing potential prison sentences in the United States after admitting guilt in a COVID-19 relief fraud case.
Oba Oloyede, a US-based accountant and information systems expert before his enthronement in July 2019, and Oluwasanmi were arrested earlier this year over their roles in a scheme that fraudulently secured $4.2 million in COVID-19 aid funds.
The duo faced 13 charges, including conspiracy to commit wire fraud, wire fraud, conspiracy to defraud, money laundering, and engaging in unlawful monetary transactions.
They were arraigned before Justice Christopher Boyko at the US District Court in Ohio.
Reports of Oloyede’s arrest first surfaced after residents of Ipetumodu raised concerns about his mysterious absence from key cultural events. An investigation by Saturday PUNCH later confirmed that the monarch was in US custody.
Court documents reveal that between April 2020 and February 2022, Oloyede and Oluwasanmi filed falsified applications for Paycheck Protection Programme and Economic Injury Disaster Loans under the US Coronavirus Aid, Relief and Economic Security (CARES) Act.
They allegedly used fake tax and wage documents to access funds intended for struggling businesses during the pandemic.
The CARES Act was established to offer emergency financial support to small businesses and nonprofits impacted by COVID-19, including grants of up to $10,000 from the US Small Business Administration.
Before his appointment as monarch, Oloyede resided in Medina, Ohio.
He was accused of using companies he owned—including Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company—to orchestrate the fraud.
Similarly, Oluwasanmi reportedly used his businesses, Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated, to illegally obtain millions, which were diverted for personal expenses in violation of US federal laws.
In total, the two men are said to have fraudulently collected around $3.76 million through the pandemic relief programs.
Following the revelations, some Ipetumodu residents are calling on the Osun State Government to investigate the matter and take appropriate action.