The Apetu of Ipetumodu in Sun State, Oba Joseph Oloyede, and a Nigerian pastor, Edward Oluwasanmi, have pleaded guilty to orchestrating a $4.2m COVID-19 relief fraud in the United States.
They were arraigned before Justice Christopher Boyko of the US District Court of Ohio.
Oba Oloyede, a US-based accountant and information system expert, was appointed the new Apetu in July 2019.
The monarch and Oluwasanmi were arrested in early 2024 for their roles in a scheme to fraudulently obtain $4.2m in COVID-19 relief funds.
The duo were charged with 13 counts of conspiracy to commit wire fraud, wire fraud, conspiracy to defraud, money laundering, and engaging in monetary transactions in criminally derived property.
The United States Department of Justice released a statement confirming that Oloyede and his associate, Edward Oluwasanmi, have been indicted for fraudulently obtaining over $4.2 million in relief funds allocated under the CARES Act.
These funds were intended to support businesses affected by the COVID-19 pandemic, but authorities claim they were misappropriated by the two individuals. The indictment states,
“Oloyede and Oluwasanmi fraudulently obtained more than $4.2 million in COVID-19 relief loans through false representations made in their applications to the US Small Business Administration (SBA).”
The fraudulent applications submitted by Oloyede and Oluwasanmi reportedly included false tax information and fabricated wage documents to support the claims for financial aid.