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 pleading guilty to charges related to COVID-19 relief fraud.
Oba Oloyede, a US-based accountant and information systems expert before his enthronement in July 2019, and Oluwasanmi were arrested in early 2024 for participating in a scheme that fraudulently secured $4.2 million in COVID-19 relief funds.
Both men were charged with 13 counts, including conspiracy to commit wire fraud, wire fraud, conspiracy to defraud, money laundering, and engaging in monetary transactions involving criminally derived property. They were arraigned before Justice Christopher Boyko at the US District Court in Ohio.
Dip Connects online news had earlier reported Oloyede’s arraignment, following his sudden disappearance from Ipetumodu after traveling abroad. His prolonged absence caused anxiety in the community, particularly as he missed several key festivals. Further investigations confirmed that the monarch was being held by US authorities.
Court documents revealed that between April 2020 and February 2022, Oloyede and Oluwasanmi submitted falsified applications for the Paycheck Protection Programme (PPP) and Economic Injury Disaster Loans (EIDL) under the US Coronavirus Aid, Relief, and Economic Security (CARES) Act, using fake tax and wage records to access funds meant to support struggling businesses during the pandemic.
The CARES Act was intended to provide emergency financial aid to Americans hit by the economic effects of COVID-19, including small business loans and grants through the US Small Business Administration.
Oba Oloyede, formerly based in Medina, Ohio, allegedly used his companies — Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company — to carry out the fraud. Similarly, Oluwasanmi was accused of using Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated to illegally obtain millions, which he later diverted for personal expenses.
According to court filings, they fraudulently secured approximately $3.76 million from the PPP and EIDL schemes.
After nearly a year of court proceedings, both men have pleaded guilty to some of the charges and now face possible prison terms.
On April 10, 2025, Oluwasanmi, through his lawyer Henry Hilow, pleaded guilty to counts one, 11, and 12 of the indictment. He was accused of using fraud proceeds to purchase a commercial property at 422 South Green Road, South Euclid, Ohio, and transferring money into a Dayspring Transportation brokerage account.
“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,” the court document stated.
On April 21, 2025, Oba Oloyede also entered his guilty plea, with a hearing scheduled for Thursday, April 24.
Meanwhile, Oloyede’s absence has stirred unrest among Ipetumodu residents and community leaders, particularly after he demolished the town’s old palace with a promise to build a new one upon his return — a promise now clouded by his legal troubles. Some residents are calling on the Osun State Government to investigate and intervene in the matter.
