Oloyede and a Nigerian pastor, Oluwasanmi after their arrest in April 2024, pleased guilty to $4.2m COVID 19 fraud charge.
By Kehinde Okeowo
Oba Joseph Oloyede, the Apetu of Ipetumodu in Osun state, was on Tuesday jailed for defrauding the United States government.
The trial judge, Christopher Boyko, sentenced the monarch to 56 months in prison over a $4.2 million COVID 19 fraud case
Oba Oloyede and a Nigerian pastor, Edward Oluwasanmi after their arrest in April 2024, pleaded guilty.
According to the 13 charge sheet against them, the duo submitted loan applications with false information.
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“During the investigation, agents found that Oloyede operated as a tax preparer and owned five businesses and one nonprofit. His co-defendant—and tax client—Oluwasanmi, owned an additional three business entities; all were incorporated in Ohio,” the US government said.
“Both defendants used their businesses to submit loan applications using false information. They obtained approximately $1.2 million in SBA funds for Oluwasanmi’s entities and $1.7 million for Oloyede’s entities.” the charge sheet further read.
While delivering judgement, Justice Boyko sentenced Oloyede to 56 months in prison and ordered him to “serve 3 years of supervised release after imprisonment.”
He was also asked to pay $4,408,543 in restitution.
In addition, the US attorney’s office in the northern district of Ohio said the Nigerian monarch will forfeit the $96,006 earlier seized by investigators and his Medina residence.
The court had in July 2025, sentenced Pastor Oluwasanmi to 27 months imprisonment.
