Oloyede
A prominent traditional ruler in Osun State has reportedly pleaded guilty to defrauding the United States government of $4.2 million COVID-19 relief funds.
The suspect, Oba Joseph Oloyede, he Apetu of Ipetumodu, has been facing trial on allegations of diverting $4.2 million COVID-19 with his alleged accomplice, Edward Oluwasanmi in the US.
Available court documents disclosed that Oluwasanmi allegedly diverted the funds using his companies, Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated.
It further revealed that the he used his companies to obtain millions of dollars, which he later diverted the funds for his personal use, from the government, thereby violating US federal laws.
Oloyede and Oluwasanmi were arrested on April 5, 2024, according to a statement issued by the US department of transportation earlier this month, revealing the monarch’s whereabouts.
The duo is facing a 13-count charge, bordering on conspiracy to commit wire fraud, and money laundering among others.
The counts accused him of using fraud proceeds to purchase commercial property at 422 South Green Road, South Euclid, Ohio, through wire transfer, and transferring money into a Dayspring transportation brokerage account.
According to the report, Oloyede submitted his guilty plea on Monday.
They reportedly pleaded guilty to all charges on April 10.
Oloyede, who was represented by his counsel, Henry Hilow, on Monday pleaded guilty to counts one, 11, and 12 of the indictment.
The duo would be sentenced on July 2, 2025.
Oloyede was crowned as the monarch of Ipetumodu in 2019 but frequently travelled between Nigeria and the US for “royal and personal engagements”.
However, his unexplained absence raised concerns among indigenes, having away for almost a year.
