Connect with us

    Hi, what are you looking for?

    News

    Osun Monarch and Pastor plead guilty to $4.2m COVID-19 scam in U.S

    Oba Joseph Oloyede, the Apetu of Ipetumodu in Osun State, and a Nigerian pastor, Edward Oluwasanmi, have pleaded guilty to charges of COVID-19 relief fraud amounting to $4.2 million in the United States.

    According to court records, Oluwasanmi used companies including Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated to illegally obtain and divert funds intended for businesses struggling during the pandemic.

    The two men were charged with 13 counts, including conspiracy to commit wire fraud, conspiracy to defraud, money laundering, and engaging in monetary transactions involving criminally derived property.

    Oluwasanmi, represented by his counsel Henry Hilow, pleaded guilty on April 10 to three counts of the indictment, admitting to using fraud proceeds to purchase a commercial property in South Euclid, Ohio, and transferring funds into a brokerage account. Oloyede submitted his guilty plea on April 21, and both are set to be sentenced on July 2.

    Oba Oloyede, a U.S.-based accountant and information systems expert before his enthronement in 2019, frequently travelled between Nigeria and the U.S. for engagements.

    His extended absence from Ipetumodu had already raised concerns among indigenes, particularly after he demolished the community’s palace with a promise to rebuild it, only to be arrested in the U.S.

    Investigations revealed that between April 2020 and February 2022, Oloyede and Oluwasanmi submitted falsified applications for the Paycheck Protection Programme and Economic Injury Disaster Loans under the Coronavirus Aid, Relief and Economic Security Act, using fake tax and wage documents to secure the funds.

    The act was designed to support small businesses and nonprofits impacted by the economic fallout from the pandemic.

    Court documents further alleged that Oloyede used companies such as Available Tax Services Incorporated, Available Financial Corporation, and Available Transportation Company to perpetrate the fraud.

    Oluwasanmi similarly exploited his own companies to secure millions of dollars for personal use, breaching U.S. federal laws.

    PUNCH earlier reported that residents of Ipetumodu were growing increasingly anxious over the monarch’s unexplained absence, especially during important festivals and community events.

    His ongoing trial in the United States has intensified calls for the Osun State Government to investigate the matter and take appropriate action.

    Loading

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    News

    Nigerian billionaire and Senator, Ned Nwoko, has refuted the recent viral claims of domestic violence made by his wife, actress Regina Daniels. In a...

    News

    TD Africa, leading technology solutions aggregator in Sub-Saharan Africa, has officially announced the onboarding of Zinox Technologies into its basket of global brands. This...

    Tech

    Kashifu Inuwa Abdullahi, CCIE, Director General, National Information Technology Development Agency (NITDA), has reaffirmed Nigeria’s commitment to leveraging Artificial Intelligence (AI) for national development,...

    Sports

    Ange Postecoglou has been sacked as Nottingham Forest manager after just eight matches in charge, with the decision announced only minutes after the team’s...