(In Nigeria) Monarch Oba Joseph Oloyede Jailed in U.S. Over $4.2 Million COVID-19 Fraud

 

Oba Joseph Oloyede, the 62-year-old Apetu of Ipetumodu in Osun State, has been sentenced to more than four years in prison in the United States after being convicted of a $4.2 million COVID-19 relief fraud scheme.

The monarch, who holds dual Nigerian and American citizenship, was also ordered to serve three years of supervised release following his prison term and to pay $4,408,543.38 in restitution.

See also: (In Nigeria) Jarvis Defends Relationship After Viral Clip of Peller Pushing Her

As part of the judgment, Oloyede forfeited his Medina residence on Foote Road, purchased with fraud proceeds, along with an additional $96,006.89 seized by investigators.

According to court documents, between April 2020 and February 2022, Oloyede and his co-conspirator, 62-year-old Edward Oluwasanmi of Willoughby, submitted fraudulent loan applications to the U.S. Small Business Association (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

See also: (In Nigeria) Fans Celebrate Funke Akindele as She Turns 48