The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, has been sentenced to 56 months (over four years) in prison by a US court for his involvement in a multimillion-dollar COVID-19 relief fraud scheme.
The sentence was handed down on August 26, 2025, by US District Judge Christopher A. Boyko in the Northern District of Ohio.
Oloyede, 62, who holds dual Nigerian and US citizenship and resides in Medina, Ohio, was also ordered to serve three years of supervised release following his imprisonment and to pay $4,408,543.38 in restitution.
He forfeited his home in Medina, purchased with proceeds from the fraud, plus an additional $96,006.89 seized during the investigation.
According to the US Attorney’s Office, Oloyede conspired with Edward Oluwasanmi to submit fraudulent loan applications under the US Small Business Association’s (SBA) COVID-19 relief programs—specifically the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL)—from April 2020 to February 2022.
Oloyede operated five businesses and one nonprofit, while Oluwasanmi owned three entities. Together, they illegally obtained approximately $4.2 million through 38 fraudulent applications. Oloyede also submitted applications in his clients’ names, collecting 15–20% of the loans as kickbacks, which he failed to report on his taxes.
The fraud proceeds were used to buy land, build a home, and purchase a luxury vehicle. Oloyede’s co-conspirator, Oluwasanmi, was previously sentenced to 27 months in prison and ordered to pay over $1.2 million in restitution.
This case was jointly investigated by the Department of Transportation Office of the Inspector General, FBI Cleveland Division, and IRS-Criminal Investigations as part of the Pandemic Response Accountability Committee Fraud Task Force.
Oba Joseph Oloyede’s sentencing marks a significant milestone in addressing abuse of COVID-19 relief funds and sends a strong message about accountability for fraudulent activities tied to pandemic aid. The monarch’s prolonged absence from his traditional role has left a leadership vacuum in Ipetumodu, affecting the local community deeply.
