The Apetu of Ipetumodu in Osun State, Oba Joseph Olugbenga Oloyede, and a Nigerian pastor based in the United States, Edward Oluwasanmi, are facing potential imprisonment after pleading guilty to multi-million-dollar COVID-19 relief fraud charges in the U.S.
The pair were arrested in early 2024 and charged with 13 counts, including conspiracy to commit wire fraud, money laundering, and defrauding the U.S. government of $4.2 million in COVID-19 aid intended for struggling businesses.
Court records show that between April 2020 and February 2022, Oloyede and Oluwasanmi submitted fraudulent applications under the Paycheck Protection Programme (PPP) and Economic Injury Disaster Loans (EIDL), which were part of the U.S. government’s emergency economic relief package during the COVID-19 pandemic.
The two men allegedly used fake tax and wage documents and fictitious business claims to secure millions of dollars. The funds, meant to keep American small businesses afloat, were instead funneled into personal accounts and used for non-qualified expenses.
Oba Oloyede, an accountant and IT specialist based in Medina, Ohio, prior to his ascension as monarch in July 2019, operated companies such as Available Tax Services Incorporated and Available Transportation Company to channel the fraudulent proceeds.
Pastor Oluwasanmi, in turn, used his companies Dayspring Transportation Limited, Dayspring Holding Inc., and Dayspring Property Inc. to obtain funds that he later diverted for personal use.
According to court filings, they fraudulently obtained at least $3.76 million from the U.S. government. Oluwasanmi has already pleaded guilty to three counts relating to wire fraud and money laundering on April 10, with sentencing scheduled for July 2, 2025.
Oba Oloyede also submitted a guilty plea on April 21, with a formal plea hearing held on April 24 before the U.S. District Court in Ohio. Sentencing details for the monarch are expected soon.
Oloyede’s legal troubles have stirred unrest in Ipetumodu, where residents and traditional chiefs have expressed disappointment over his extended absence and recent developments.
Community members revealed that before his arrest, the monarch had demolished the town’s palace with a promise to construct a modern replacement. However, his continued stay abroad and recent conviction have led to growing demands for state intervention and investigation into the matter.
UNICEF and WHO, among others, have supported several initiatives in Osun State, and community leaders fear that the monarch’s legal troubles may cast a shadow on the state’s global image.
Oba Oloyede’s arrest has also drawn attention due to the growing list of Nigerian elites implicated in foreign financial fraud schemes during the pandemic, as global watchdogs intensify scrutiny over misappropriated COVID-19 relief funds.
