The Apetu of Ipetumodu, Oba Joseph Oloyede, and a Nigerian pastor, Edward Oluwasanmi, have pleaded guilty before a United States court to charges related to a $4.2 million COVID-19 relief fund fraud.
The two men, who were arrested in early 2024, now face possible prison terms after admitting to multiple counts, including conspiracy to commit wire fraud, money laundering, and engaging in criminal monetary transactions.
Oba Oloyede, a US-based accountant before his ascension as Apetu in July 2019, alongside Oluwasanmi, was accused of orchestrating a complex scheme to siphon pandemic funds meant for struggling American businesses. Using falsified tax documents and fabricated wage records, they allegedly secured millions under the US Coronavirus Aid, Relief, and Economic Security (CARES) Act between April 2020 and February 2022.
Court documents revealed that Oloyede utilized his companies — Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company — to fraudulently obtain COVID-19 relief grants. Similarly, Oluwasanmi, operating Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated, was said to have diverted large sums for personal use.
According to the indictment, both men fraudulently received about $3.76 million through the Paycheck Protection Programme and the Economic Injury Disaster Loans.
During court proceedings, Oluwasanmi, represented by his counsel, Henry Hilow, pleaded guilty to counts one, 11, and 12 of the indictment on April 10, 2025. “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,” the court document stated.
Oba Oloyede also submitted his guilty plea on Monday, April 21. His hearing was subsequently fixed for Thursday, April 24.
Their admissions have sparked outrage back home in Nigeria, particularly in Ipetumodu, Osun State, where the monarch’s long absence had already caused unrest. Local chiefs and residents had earlier expressed concern over the monarch’s prolonged stay abroad, especially after he demolished the town’s ancient palace with promises to rebuild it.
Reacting to the news, a community leader, who preferred anonymity, lamented, “We are deeply embarrassed by this development. Our monarch left us with promises, but now we are left with shame.”
Another resident added, “The state government must step in. The integrity of our traditional institution is at stake.”
