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Shockwaves As Nigerian Monarch And Pastor Face Jail Time Over $4.2M COVID-19 Fund Scam In U.S.
The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, and a Nigerian pastor, Edward Oluwasanmi, are facing potential prison sentences in the United States after admitting guilt to charges related to COVID-19 relief fund fraud.....KINDLY READ THE FULL STORY HERE▶
Oloyede, an accountant and information systems expert based in the U.S., was installed as the Apetu in July 2019.
Both men were arrested in early 2024 for their involvement in a scheme that fraudulently secured $4.2 million in COVID-19 relief funds.
They were charged with 13 counts, including conspiracy to commit wire fraud, conspiracy to defraud, money laundering, and conducting monetary transactions involving criminally obtained property.
The case is currently being handled by Justice Christopher Boyko at the U.S. District Court in Ohio.
According to Punch, residents of Ipetumodu grew concerned after Oloyede disappeared following a trip abroad. His prolonged absence from several key traditional festivals heightened fears within the community. Investigations later confirmed that U.S. authorities were detaining the monarch.
Court documents revealed that between April 2020 and February 2022, Oloyede and Oluwasanmi filed fraudulent applications for the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) under the U.S. Coronavirus Aid, Relief, and Economic Security (CARES) Act. They allegedly used falsified tax and payroll documents to illegally obtain funds intended to support businesses struggling during the pandemic.
The CARES Act was introduced to provide emergency financial aid to Americans affected by the economic downturn caused by COVID-19, including loans and grants of up to $10,000 for small businesses.
Before ascending the throne, Oba Oloyede resided in Medina, Ohio. Authorities allege that he exploited some of his companies—Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company—to orchestrate the fraudulent activities targeting the COVID-19 relief programs.
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