Oba Joseph Oloyede, the Apetu of Ipetumodu in Osun State, and a Nigerian pastor, Edward Oluwasanmi, have pleaded guilty to charges related to a $4.2 million COVID-19 relief fraud in the United States.
Court documents revealed that Oluwasanmi, using companies such as Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated, fraudulently obtained funds meant to support businesses impacted by the COVID-19 pandemic.
Both men faced 13 counts, including conspiracy to commit wire fraud, conspiracy to defraud the U.S. government, money laundering, and engaging in transactions involving criminally derived property.
Oluwasanmi, through his attorney Henry Hilow, entered a guilty plea on April 10, admitting to using fraudulently obtained proceeds to purchase commercial property in South Euclid, Ohio, and to transfer large sums into a brokerage account.
Oba Oloyede also pleaded guilty on April 21. They are both scheduled for sentencing on July 2.
Before ascending the throne in 2019, Oba Oloyede had built a career in the United States as an accountant and information systems expert.
Despite his royal duties in Nigeria, he reportedly maintained frequent travels to the U.S., sparking concerns among Ipetumodu indigenes, particularly after the demolition of the community’s palace, which he had promised to rebuild before his legal troubles emerged.
Investigations found that between April 2020 and February 2022, the duo submitted falsified applications for pandemic relief programs — including the Paycheck Protection Programme (PPP) and Economic Injury Disaster Loans (EIDL) — under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. They allegedly used fake tax documents and falsified employee records to secure substantial funds meant for struggling businesses and nonprofits.
Further allegations indicated that Oba Oloyede operated through companies such as Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company to execute the fraud.
Similarly, Oluwasanmi exploited his companies to misappropriate millions of dollars for personal gain.
