Quest FM TV News | International Desk | August 26, 2025
The Apetu of Ipetumodu, Osun State, Oba Joseph Oloyede, has been sentenced to 56 months (over four years) in prison by a U.S. court for his role in a $4.2 million COVID-19 relief fraud scheme.
The 62-year-old monarch, who holds dual citizenship in Nigeria and the United States, was convicted by U.S. District Judge Christopher A. Boyko of the Northern District of Ohio on Tuesday, August 26.
According to the U.S. Attorney’s Office, Oloyede conspired with Edward Olowasanmi to submit fraudulent applications for COVID-19 emergency loans under the U.S. Small Business Administration’s pandemic relief program between April 2020 and February 2022.
In April 2025, Oloyede pleaded guilty to multiple charges, including wire fraud, tax fraud, conspiracy, and money laundering. The court found that Oloyede personally benefited to the tune of $1.7 million, using the illicit funds to purchase land, build a house, and acquire luxury cars.
He was also ordered to pay more than $4.4 million in restitution.
His co-conspirator, Olowasanmi, had earlier been sentenced in July 2025 to 27 months in prison, a $15,000 fine, and restitution of $1.2 million.
The conviction marks a significant clampdown by U.S. authorities on foreign nationals implicated in pandemic relief scams.
Report by: Enarevwa Charity | Edited by: Chris Odjomah