Monday, April 28, 2025 - Oba Joseph Oloyede, the Apetu of Ipetumodu in Osun State, and a Nigerian pastor, Edward Oluwasanmi, have pleaded guilty to charges of COVID-19 relief fraud amounting to $4.2 million in the United States.
According to court records, Oluwasanmi used companies
including Dayspring Transportation Limited, Dayspring Holding Incorporated, and
Dayspring Property Incorporated to illegally obtain and divert funds intended
for businesses struggling during the pandemic. The two men were charged with 13
counts, including conspiracy to commit wire fraud, conspiracy to defraud, money
laundering, and engaging in monetary transactions involving criminally derived
property.
Oluwasanmi, represented by his counsel Henry Hilow, pleaded
guilty on April 10 to three counts of the indictment, admitting to using fraud
proceeds to purchase a commercial property in South Euclid, Ohio, and
transferring funds into a brokerage account. Oloyede submitted his guilty plea
on April 21, and both are set to be sentenced on July 2.
Oba Oloyede, a U.S.-based accountant and information systems
expert before his enthronement in 2019, frequently travelled between Nigeria
and the U.S. for engagements. His extended absence from Ipetumodu had already
raised concerns among indigenes, particularly after he demolished the
community’s palace with a promise to rebuild it, only to be arrested in the
U.S.
Investigations revealed that between April 2020 and February
2022, Oloyede and Oluwasanmi submitted falsified applications for the Paycheck
Protection Programme and Economic Injury Disaster Loans under the Coronavirus
Aid, Relief and Economic Security Act, using fake tax and wage documents to
secure the funds. The act was designed to support small businesses and
nonprofits impacted by the economic fallout from the pandemic.
Court documents further alleged that Oloyede used companies
such as Available Tax Services Incorporated, Available Financial Corporation,
and Available Transportation Company to perpetrate the fraud. Oluwasanmi
similarly exploited his own companies to secure millions of dollars for
personal use, breaching U.S. federal laws.
The residents of Ipetumodu were growing increasingly anxious
over the monarch’s unexplained absence, especially during important festivals
and community events. His ongoing trial in the United States has intensified
calls for the Osun State Government to investigate the matter and take
appropriate action.
0 Comments