The Federal Bureau of Investigation (FBI) has arrested Nigerian pastor Edward Abiodun Oluwasanmi for allegedly orchestrating a multimillion-dollar COVID-19 relief fraud scheme in collaboration with Osun monarch, Oba Joseph Oloyede.
According to U.S. authorities, Oluwasanmi and Oloyede fraudulently applied for pandemic relief loans intended for struggling businesses by submitting forged documents.
The scheme reportedly netted them $4.2 million, which was funneled through Oluwasanmi’s companies—Dayspring Property Incorporated, Dayspring Holdings, and Dayspring Transportation. The funds were allegedly diverted for personal expenses, in violation of U.S. federal laws.
The Nigerian-born pastor, who resides in the U.S., was indicted on 13 counts of fraud and arrested in Cleveland in April 2024.
He was later granted bail set at $20,000 on the condition that he appear in court for trial and serve any prison sentence if convicted.
Court documents revealed that in September 2020, Oluwasanmi transferred $221,880 to purchase commercial property in South Euclid, Ohio.
A year later, he moved $1 million in COVID-19 relief funds into his company’s brokerage account. U.S. prosecutors have seized approximately $620,000 from him and are seeking to forfeit additional funds and properties obtained through the fraudulent scheme.
Further financial investigations led to the FBI confiscating $599,250 from his Dayspring Transportation account at Fidelity Investments and nearly $20,000 from his Dayspring Property account at Key Bank.
To prevent flight risk, Oluwasanmi’s U.S. and Nigerian passports have been confiscated. His U.S. passport identifies him as Edward Olanrewaju Abiodun Oluwasanmi.
Authorities have warned that if Oluwasanmi fails to appear for trial, he will be re-arrested.
His case, along with that of Oba Oloyede, adds to a growing list of Nigerian nationals convicted of financial crimes in the U.S. Recent high-profile cases include Bidemi Rufai, an associate of Ogun State Governor Dapo Abiodun, and social media influencer Ramon ‘Hushpuppi’ Abbas, both sentenced for fraud-related offenses.