Oba Joseph Olugbenga Oloyede, the Apetu of Ipetumodu in Osun State, and Nigerian pastor Edward Oluwasanmi are facing potential prison sentences in the United States after pleading guilty to charges of COVID-19 relief fraud.
Installed as the traditional ruler in July 2019, Oba Oloyede, a U.S.-trained accountant and information systems expert, has seen his reign overshadowed by controversy. In early 2024, he was arrested alongside Oluwasanmi for allegedly participating in a scheme that fraudulently obtained $4.2 million in pandemic relief funds.
The two men were indicted on 13 counts, including conspiracy to commit wire fraud, wire fraud, conspiracy to defraud the United States, money laundering, and engaging in monetary transactions involving criminally derived property. They appeared before Justice Christopher Boyko in the U.S. District Court for the Northern District of Ohio.
Reports have previously highlighted Oba Oloyede’s mysterious absence from vital traditional ceremonies in Ipetumodu, raising concerns among residents. It was later disclosed that he was in custody of U.S. authorities.
Court documents reveal that between April 2020 and February 2022, Oloyede and Oluwasanmi submitted fraudulent applications for the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) under the U.S. Coronavirus Aid, Relief, and Economic Security (CARES) Act. They allegedly used falsified tax documents and payroll records to access funds intended for struggling businesses during the pandemic.
Prior to his ascension to the throne, Oba Oloyede operated several businesses in Medina, Ohio, including Available Tax Services Inc., Available Financial Corp., and Available Transportation Company, through which prosecutors assert he orchestrated parts of the fraudulent scheme. Oluwasanmi, on the other hand, allegedly misused his companies—Dayspring Transportation Ltd., Dayspring Holding Inc., and Dayspring Property Inc.—to illegally acquire and misappropriate millions of dollars.
Investigators have stated that the duo fraudulently obtained $3.76 million, diverting portions of the funds for personal expenses and real estate investments.
Following a year-long legal battle, Oluwasanmi, represented by attorney Henry Hilow, pleaded guilty on April 10, 2025, to three counts of the indictment. His plea detailed the misuse of fraud proceeds to purchase commercial property in South Euclid, Ohio, and to fund company accounts. Sentencing is set for July 2, 2025.
On April 21, 2025, Oba Oloyede also entered a guilty plea, with proceedings scheduled for formalization on April 24.
The monarch’s prolonged absence from Ipetumodu, coupled with his controversial demolition of the town’s historic palace—a project he promised to rebuild—has incited outrage among community leaders and residents. Many are now urging the Osun State Government to initiate an investigation and take appropriate action.
As the traditional ruler awaits sentencing, the future leadership of Ipetumodu remains uncertain.
