Oba Joseph Oloyede, the Apetu of Ipetumodu in Osun State, and Edward Oluwasanmi, a Nigerian pastor, have admitted guilt in a $4.2 million COVID-19 relief fraud case in the United States.
Court records indicate that Oluwasanmi utilized companies such as Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated to fraudulently acquire and misappropriate funds meant for businesses facing hardships during the pandemic. The duo faced 13 charges, including conspiracy to commit wire fraud, conspiracy to defraud, money laundering, and conducting transactions with criminally obtained property.
Represented by attorney Henry Hilow, Oluwasanmi pleaded guilty on April 10 to three counts of the indictment, confessing to using fraudulently obtained funds to buy a commercial property in South Euclid, Ohio, and transferring money into a brokerage account. Oloyede entered his guilty plea on April 21, with both scheduled for sentencing on July 2.
Before his 2019 enthronement, Oba Oloyede, a U.S.-based accountant and information systems specialist, frequently traveled between Nigeria and the U.S. for engagements. His prolonged absence from Ipetumodu had already sparked concerns among locals, particularly after he demolished the community’s palace with a pledge to rebuild it, only to face arrest in the U.S.
Investigations showed that from April 2020 to 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 fabricated tax and wage documents to obtain funds. This act was intended to assist small businesses and nonprofits affected by the pandemic’s economic impact.
Court documents also alleged that Oloyede used entities like Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company to carry out the fraud. Similarly, Oluwasanmi misused his companies to secure millions of dollars for personal gain, violating U.S. federal laws.
PUNCH previously reported that Ipetumodu residents were becoming increasingly worried about the monarch’s unexplained absence, especially during key festivals and community events. His ongoing trial in the United States has heightened demands for the Osun State Government to probe the issue and take suitable measures.
A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.
Nnamdi Okoli
