Scandal: Osun Monarch, Pastor Plead Guilty to $4.2M COVID-19 Fraud in the US

The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, and Nigerian pastor, Edward Oluwasanmi, have pleaded guilty to charges related to a fraudulent scheme to obtain COVID-19 relief funds in the United States. Both men now face potential prison sentences.

Oba Oloyede, a US-based accountant and information systems expert, ascended the throne of Apetu in July 2019. In early 2024, both he and Oluwasanmi were arrested for their involvement in a scheme that fraudulently secured $4.2 million in COVID-19 relief funds.

The charges against them include 13 counts of 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 in Ohio.

In a report by Saturday PUNCH, the community of Ipetumodu was left in confusion when the 62-year-old monarch disappeared following a trip abroad. There was growing concern among residents after Oba Oloyede failed to attend important community festivals, which are typically his responsibility. Investigations later revealed that the monarch had been detained by US authorities.

Court documents show that from April 2020 to February 2022, Oba Oloyede and Oluwasanmi submitted fraudulent applications for the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL), which were part of the US Coronavirus Aid, Relief, and Economic Security Act. These funds were intended to assist struggling businesses during the pandemic. The duo falsified tax and wage documents to secure the financial support meant for small businesses and non-profit entities.

Oba Oloyede, who was residing in Medina, Ohio, before his coronation, allegedly used several of his companies, including Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company, to defraud the US government. Oluwasanmi, in turn, used his own businesses—Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated—to illegally obtain millions of dollars, which he diverted for personal use.

Together, the two men fraudulently obtained $3.76 million from the PPP and EIDL schemes. After more than a year in court, both men pleaded guilty to some of the charges, with sentencing scheduled for later this year.

On April 10, Oluwasanmi, through his lawyer Henry Hilow, pleaded guilty to counts one, eleven, and twelve of the indictment. These counts accuse him of using proceeds from the fraud to purchase a commercial property in South Euclid, Ohio, and transferring funds to his transportation brokerage account. His sentencing is set for July 2, 2025.

On April 21, Oba Oloyede also submitted his guilty plea before the court. The court held a hearing on his plea on April 24.

Oloyede’s absence from his community, especially after he reportedly demolished the town’s palace and promised to rebuild it upon his return, has led to growing concern among local leaders and residents. With news of his involvement in the US fraud case, some members of the Ipetumodu community are now calling on the state government to intervene and investigate the matter.