The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, and Nigerian pastor Edward Oluwasanmi are facing potential prison sentences in the United States after pleading guilty to charges of COVID-19 relief fraud.
Oba Oloyede, a US-based accountant and information systems expert, ascended to the throne in July 2019. He and Oluwasanmi were arrested in early 2024 for their involvement in a scheme that fraudulently obtained $4.2 million in COVID-19 relief funds.
The two were charged with 13 counts, including conspiracy to commit wire fraud, wire fraud, conspiracy to defraud, money laundering, and engaging in monetary transactions involving criminally derived property. They were arraigned before Justice Christopher Boyko of the US District Court of Ohio.
Reports indicate that Oloyede’s arraignment has resulted in a loss for his subjects in Ipetumodu, as his absence following a trip abroad sparked speculation. The community has expressed anxiety over the 62-year-old monarch missing important festivals that required his presence. Investigations confirmed that he is being held by US authorities.
Court documents reveal that Oloyede and Oluwasanmi submitted falsified applications for the Paycheck Protection Program and Economic Injury Disaster Loans under the US Coronavirus Aid, Relief, and Economic Security Act between April 2020 and February 2022. They used fake tax and wage documents to secure funds intended to support struggling businesses during the pandemic.
The Act aimed to provide emergency financial assistance to Americans impacted by the COVID-19 pandemic, authorizing the US Small Business Administration to issue loans and grants to small businesses experiencing revenue loss.
Oba Oloyede, who lived in Medina, Ohio, prior to his enthronement, allegedly used several companies, including Available Tax Services Incorporated and Available Financial Corporation, to defraud the government through the COVID-19 relief fund. Oluwasanmi was also accused of utilizing his companies to divert millions of dollars for personal expenses, violating US federal laws.
According to court documents, they fraudulently obtained approximately $3.76 million from the Paycheck Protection Program and Economic Injury Disaster Loans. After nearly a year in court, both pleaded guilty to some charges and are facing sentencing.
On April 10, Oluwasanmi, through his attorney Henry Hilow, pleaded guilty to counts one, 11, and 12 of the indictment. He was accused of using fraud proceeds to purchase a commercial property in South Euclid, Ohio, and transferring money into his brokerage account. The court set sentencing for July 2, 2025.
Oba Oloyede submitted his guilty plea on April 21, with a hearing scheduled for April 24. His prolonged absence has sparked reactions from community leaders, especially following reports that he demolished the town’s palace with a promise to build a new one upon his return.
In light of the recent developments, some residents are calling for an investigation from the state government.
