Joseph Oloyede, the Apetu of Ipetumodu in Osun State, has been sentenced to 56 months in a U.S. federal prison for defrauding the American government of $4.2 million in COVID-19 relief funds.
The sentence was handed down on Tuesday by Judge Christopher Boyko of the Northern District of Ohio, after Oloyede pleaded guilty to multiple fraud charges. In addition to his prison term, the monarch was ordered to serve three years of supervised release and pay $4.4 million in restitution. He will also forfeit his Medina residence and $96,006 earlier seized during investigations.
Oloyede was arrested in April 2024 alongside Edward Oluwasanmi, a Nigerian pastor based in Ohio. Both men were indicted on 13 counts, including conspiracy to commit wire fraud, money laundering, and conspiracy to defraud.
Investigators revealed that between April 2020 and February 2022, the duo submitted fraudulent applications for Paycheck Protection Programme (PPP) loans and Economic Injury Disaster Loans (EIDLs). They allegedly filed falsified tax and wage documents to back their claims, channeling the funds through several companies they controlled.
According to the U.S. Attorney’s Office, Oloyede operated as a tax preparer and managed five businesses and a nonprofit, while Oluwasanmi ran three business entities. Together, they secured $1.7 million for Oloyede’s companies and $1.2 million for Oluwasanmi’s.
Both defendants later entered plea agreements. In July 2025, Oluwasanmi was sentenced to 27 months in prison for his role in the scheme.
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