The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, and Nigerian pastor Edward Oluwasanmi face possible imprisonment in the United States after pleading guilty to COVID-19 relief fraud charges.
Oba Oloyede, a US-based accountant and information system expert appointed as the new Apetu in July 2019, was arrested along with Oluwasanmi in early 2024 for allegedly scheming to obtain $4.2 million in COVID-19 relief funds fraudulently.
The two men faced 13 counts, including conspiracy to commit wire fraud, conspiracy to defraud, money laundering, and engaging in monetary transactions with criminally derived property. They appeared before Justice Christopher Boyko at the US District Court of Ohio.
The Punch previously reported Oloyede’s arraignment when Ipetumodu residents questioned his disappearance from the community after travelling abroad. The community grew anxious when the 62-year-old monarch missed several important festivals requiring his presence.
Court documents obtained by the correspondent show that between April 2020 and February 2022, Oloyede and Oluwasanmi submitted falsified applications for Paycheck Protection Programme loans and Economic Injury Disaster Loans under the US Coronavirus Aid, Relief and Economic Security Act. They allegedly used fake tax and wage documents to secure funds intended for businesses struggling during the pandemic.
The Act provided emergency financial assistance to Americans suffering economic effects from the COVID-19 pandemic by issuing loans to small businesses and non-profit organisations experiencing pandemic-related revenue losses. It also authorised the US Small Business Administration to issue advances or grants up to $10,000 to small businesses.
Oba Oloyede, previously based in Medina, Ohio, before becoming king, allegedly used several companies, including Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company, to defraud the government through COVID-19 relief funds.
Oluwasanmi reportedly used his companies – Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated – to obtain millions of dollars, which he later diverted for personal expenses, violating US federal laws.
According to court records, the duo fraudulently obtained $3.76 million from the US Paycheck Protection Programme and Economic Injury Disaster Loans scheme.
After approximately one year in court, both men pleaded guilty to some charges and now face potential prison sentences.
On April 10, Oluwasanmi, represented by counsel Henry Hilow, pleaded guilty to counts one, 11, and 12 of the indictment. These counts accused him of using fraud proceeds to purchase commercial property at 422 South Green Road, South Euclid, Ohio, through wire transfer, and transferring money into a Dayspring transportation brokerage account.
“Guilty plea entered to counts 1, 11 and 12 of the indictment. Plea agreement executed. Sentencing set for July 2, 2025, at 10 am in Courtroom 9A. Defendant’s bond to continue with same conditions as previously ordered,” the document stated.
Oba Oloyede submitted his guilty plea on Monday, April 21, with the court scheduling Thursday, April 24, for his plea hearing.
The monarch’s extended absence has sparked reactions from community leaders and chiefs, particularly after he reportedly demolished the town’s palace, promising to build an improved one upon his return before his arrest.
Following news of his US trial, some residents now demand that the state government investigate and intervene in the matter.
