The Apetu of Ipetumodu, Oba Joseph Oloyede, a Nigerian monarch from Osun State, has been involved in a $4.2 million COVID-19 relief fund fraud case in the U.S.
Oba Oloyede and his associate, Edward Oluwasanmi, a Nigerian pastor, were charged with 13 counts of conspiracy to commit wire fraud, wire fraud, conspiracy to defraud, money laundering, and engaging in monitary transactions in criminally derived property.
They allegedly submitted falsified tax and wage documents to obtain SBA loans, claiming $4.2 million in relief funds meant for struggling businesses during the pandemic. Oloyede reportedly pocketed $1.7 million for his businesses and an additional $1.3 million by submitting falsified applications for co-conspirator.
Oluwasanmi was sentenced to 27 months’ imprisonment and ordered to forfeit a commercial property worth $15,000. Oba Oloyede, on the other hand, forfeited his property to the U.S government while awaiting sentencing.
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