Osun Monarch Joseph Oloyede, Pastor Admit To COVID-19 Fraud In U.S.

(AFRICAN EXAMINER) – The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, and a pastor, Edward Oluwasanmi, are facing possible prison sentences in the United States after pleading guilty to charges of COVID-19 relief fraud.

Oba Oloyede, a U.S.-based accountant and information systems expert, was installed as the new Apetu in July 2019. He and Oluwasanmi were arrested in 2024 for their involvement in a scheme to fraudulently obtain $4.2 million in COVID-19 relief funds.

The duo faced 13 counts, including conspiracy to commit wire fraud, wire fraud, conspiracy to scam, money laundering, and engaging in monetary transactions involving criminally derived property. They were arraigned before Justice Christopher Boyko of the U.S. District Court for the Northern District of Ohio.

It is worth recalling that Oba Oloyede’s sudden disappearance after a trip abroad had left residents of Ipetumodu confused and concerned.

According to court documents, between April 2020 and February 2022, Oloyede and Oluwasanmi submitted falsified applications for Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL) under the U.S. Coronavirus Aid, Relief, and Economic Security (CARES) Act, using fake tax and wage documents to secure funds intended to support struggling businesses during the pandemic.

The CARES Act was designed to provide emergency financial assistance to Americans affected by the economic fallout of COVID-19, offering loans and grants to small businesses and nonprofit entities experiencing revenue losses.

Before his ascension to the throne, Oba Oloyede, who was based in Medina, Ohio, allegedly used several of his companies,  including Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company to perpetrate the fraud.

Similarly, Oluwasanmi was accused of using his companies, Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated to fraudulently obtain millions of dollars, which he diverted for personal expenses, violating U.S. federal laws.

Court records show that together, they fraudulently received approximately $3.76 million from the PPP and EIDL programs.

After nearly a year of legal proceedings, both men entered guilty pleas to some of the charges and are now awaiting sentencing.

On April 10, Oluwasanmi, represented by his counsel Henry Hilow, pleaded guilty to counts 1, 11, and 12 of the indictment. The charges involved using proceeds from the fraud to acquire a commercial property at 422 South Green Road, South Euclid, Ohio, and transferring funds into Dayspring Transportation’s brokerage account.

“Guilty plea entered to counts 1, 11, and 12 of the indictment. Plea agreement executed. Sentencing set for July 2, 2025, at 10 a.m. in Courtroom 9A. Defendant’s bond to continue with the same conditions as previously ordered,” the court document stated.

On Monday, April 21, Oba Oloyede also entered a guilty plea, with the hearing on his plea scheduled for Thursday, April 24.

Meanwhile, Oba Oloyede’s prolonged absence from Ipetumodu has continued to stir concern among his subjects. Residents have expressed further dismay upon learning that the detained king had demolished the town’s palace before his trip abroad, promising to construct a more befitting one upon his return.

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