The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, has been sentenced to more than four years in prison in the United States for a $4.2 million (₦6.4bn) COVID-19 fraud scheme.
Judge Christopher Boyko of the Northern District of Ohio delivered the judgment on Tuesday, August 26, 2025, after the monarch pleaded guilty to multiple charges.
Sentence and Restitution
According to the U.S. Attorney’s Office, the Nigerian monarch was ordered to:
- Serve three years of supervised release after completing his prison term.
- Pay $4,408,543.38 in restitution.
- Forfeit his Medina home in Ohio, which was purchased with fraud proceeds.
- Lose an additional $96,006.89 seized by investigators.
How the COVID-19 Fraud Happened
Oba Oloyede and his co-defendant, Edward Oluwasanmi, a Nigerian pastor, were arrested in April 2024.
They faced 13 charges, including:
- Conspiracy to commit wire fraud.
- Conspiracy to defraud.
- Money laundering.
- Engaging in monetary transactions with criminally derived property.
Between April 2020 and February 2022, the duo:
- Submitted fake Paycheck Protection Programme (PPP) and Economic Injury Disaster Loan (EIDL) applications.
- Used falsified tax and wage documents to support their claims.
- Secured about $1.7 million for Oloyede’s companies and $1.2 million for Oluwasanmi’s businesses.
Businesses Involved in the Fraud Scheme
Investigators revealed that Oloyede worked as a tax preparer and operated five businesses and one nonprofit in Ohio.
Oluwasanmi, who was also his tax client, owned three additional entities.
All these companies were used to submit fraudulent loan applications and siphon U.S. government funds meant for COVID-19 relief.
Co-Defendant’s Jail Term
While Oba Oloyede received more than four years in prison, his co-defendant, Oluwasanmi, was sentenced to 27 months behind bars in July 2025 after entering a plea bargain.
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