The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, alongside a Nigerian pastor, Edward Oluwasanmi, is at risk of being jailed in the United States after admitting guilt in a COVID-19 relief fund fraud case.
Oba Oloyede, who worked as an accountant and information systems professional in the US, was crowned Apetu in July 2019. He and Oluwasanmi were apprehended in early 2024 over allegations of fraudulently securing $4.2 million meant for pandemic relief.
They both faced 13 charges, including conspiracy to commit wire fraud, wire fraud, conspiracy to defraud, money laundering, and conducting financial transactions with criminally obtained money.
Following his unexplained absence abroad, uncertainty spread among residents of Ipetumodu. The monarch missed key traditional events, raising concerns in the community.
Further investigations revealed that US authorities were detaining him. Court papers show that between April 2020 and February 2022, Oloyede and Oluwasanmi submitted forged applications to access the Paycheck Protection Programme (PPP) and Economic Injury Disaster Loans (EIDL), initiatives established under the US Coronavirus Aid, Relief and Economic Security (CARES) Act. They allegedly used falsified tax and wage documents to claim funds intended to support businesses hit by the pandemic.
The CARES Act aimed to ease the financial burden caused by COVID-19 by offering loans and grants to small businesses and non-profit organisations experiencing revenue losses. It authorised the US Small Business Administration to provide advances of up to $10,000 to eligible applicants.
Prior to his installation as king, Oloyede lived in Medina, Ohio. He was accused of exploiting several of his businesses — Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company — to carry out the fraudulent scheme.
Similarly, Oluwasanmi was accused of using his companies — Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated — to secure millions of dollars, which he allegedly diverted for personal use, violating US federal regulations.
Court documents indicate that both men fraudulently obtained around $3.76 million through the PPP and EIDL schemes. After roughly a year of legal proceedings, they agreed to plead guilty to some of the charges and now await sentencing.
On April 10, Oluwasanmi, represented by his lawyer Henry Hilow, entered a guilty plea to counts one, eleven, and twelve of the indictment. These counts accused him of using fraudulent proceeds to buy a commercial property located at 422 South Green Road, South Euclid, Ohio, via wire transfer, and transferring funds into a Dayspring Transportation brokerage account.
The court document reads: “Guilty plea entered to counts 1, 11 and 12 of the indictment. Plea agreement executed. Sentencing set for July 2, 2025, at 10am in Courtroom 9A. Defendant’s bond to continue with same conditions as previously ordered.”
On April 21, Oba Oloyede also submitted his guilty plea. A hearing on his plea was scheduled for April 24.
Meanwhile, his prolonged absence has continued to stir debate in Ipetumodu, especially after reports emerged that he had demolished the town’s palace, promising to build a new structure upon his return — a plan now stalled by his legal troubles.
Following the news of his trial in the United States, several residents have called on the Osun State Government to investigate the situation and take appropriate action.
