FBI Arrests Nigerian Pastor for Multimillion-Dollar COVID-19 Fraud, Links Him to Detained Monarch

Nigerian Pastor Edward Abiodun Oluwasanmi has been arrested by the FBI for his alleged involvement in a multimillion-dollar COVID-19 relief fraud scheme, linking him to Osun monarch Oba Joseph Oloyede. The pastor is accused of conspiring with Oloyede to defraud the U.S. government of $4.2 million in pandemic relief funds intended to support struggling businesses.

Oluwasanmi reportedly used his three companies—Dayspring Property Incorporated, Dayspring Holdings, and Dayspring Transportation—to obtain fraudulent loans. According to prosecutors, he submitted forged documents to secure these funds, which were then misappropriated for personal use, violating U.S. federal laws.

Indicted on a 13-count charge of fraud, Oluwasanmi was arrested in Cleveland in April before being released on a $20,000 bail. His financial dealings are under scrutiny, including a wire transfer of $221,880 in September 2020 to purchase commercial property in Ohio. Further investigations revealed that on October 26, 2021, he transferred $1 million in COVID-19 relief funds to a brokerage account linked to his company, Dayspring Transportation.

Authorities have seized approximately $620,000 from Oluwasanmi, including $599,250 from his Fidelity Investments account under Dayspring Transportation and an additional $20,000 from his Dayspring Property account at Key Bank. Prosecutors seek the forfeiture of these funds and other assets acquired through fraudulent means. His U.S. and Nigerian passports have been confiscated to ensure his compliance with trial proceedings. As part of his bail conditions, he faces immediate re-arrest if he fails to appear in court.

The case is closely tied to the arrest of Oba Joseph Oloyede, the Apetu of Ipetumodu, who was reported missing in March 2024 and later found in FBI custody. The Nigerian monarch, also a U.S. citizen, faces similar fraud charges in the U.S. District Court for the Northern District of Ohio. He was arrested on May 4, 2024, after a warrant was issued for his apprehension.

Court documents allege that Oloyede orchestrated a fraudulent scheme through six registered companies, securing relief loans meant for struggling businesses. He allegedly falsified financial documents, including tax records and wage statements, to qualify for these loans, misusing the funds for personal expenses. FBI records indicate that in June 2020 alone, he secured over $100,000 in loans for four of his businesses. Later, on October 7, 2021, he received a $500,000 loan for JO&A, followed by another $500,000 loan for Available Transportation two days later.

Further investigations suggest that Oloyede, an accountant by profession, assisted co-conspirators in executing similar fraud schemes, charging them a percentage of the loan amount upon disbursement. A grand jury in the U.S. District Court for the Northern District of Ohio indicted both Oloyede and Oluwasanmi on April 3, 2024, for conspiracy, wire fraud, and money laundering. Prosecutors allege that between April 2020 and February 2022, they fraudulently obtained over $4.2 million in SBA-guaranteed relief funds. Oloyede reportedly pocketed $1.7 million for his own businesses and another $1.3 million by submitting falsified applications for co-conspirators.