The Osun State Government has announced plans to obtain the Certified True Copy of a U.S. court judgment that sentenced the Apetumodu of Ipetumodu, Oba Joseph Oloyede, to prison over a multimillion-dollar COVID-19 relief fund fraud.
Oloyede, 62, who holds dual citizenship in Nigeria and the United States, was on Tuesday, August 26, handed a 56-month prison term by U.S. District Judge Christopher A. Boyko. He was also ordered to serve three years of supervised release and pay $4,408,543.38 in restitution. According to the U.S. Attorney’s Office for the Northern District of Ohio, the monarch forfeited his Medina, Ohio residence—purchased with fraud proceeds—along with an additional $96,006.89 linked to the scheme.
He was found guilty of spearheading a conspiracy that exploited emergency loan programs set up to assist small businesses during the COVID-19 pandemic.
Speaking on Wednesday, Osun State Commissioner for Local Government and Chieftaincy Matters, Dosu Babatunde, said the government would not act based on unverified reports.
“While it may be true that the monarch has been convicted and jailed, there is no official record with us. We cannot rely on Facebook posts and stories to justify such a serious matter,” he stated.
Babatunde confirmed that the government would formally request the Certified True Copy of the judgment before determining the monarch’s fate.
“We will direct that the Certified True Copy of the judgment be obtained. After reviewing it, the government will then decide on the next steps,” he added.
In Ipetumodu, the atmosphere remained calm on Wednesday, though residents quietly discussed the development. Chiefs in the town reportedly convened at the palace to deliberate on the issue.
The most senior chief, Sunday Adedeji, remarked, “May God never allow chaos in our community. By the grace of God, He will be in total and complete control. There is no crisis in the town, and we do not envisage any.”
Court records revealed that between April 2020 and February 2022, Oloyede—who worked as a tax preparer and owned five businesses and a nonprofit—collaborated with 62-year-old Edward Oluwasanmi of Willoughby, Ohio, to submit fraudulent applications for COVID-19 relief loans.
The fraudulent claims targeted the Paycheck Protection Programme and the Economic Injury Disaster Loan scheme under the CARES Act, defrauding the U.S. government of over $4.2 million.
Oloyede later pleaded guilty to six counts, including conspiracy to commit wire fraud, engaging in monetary transactions with criminally derived property, and filing false tax returns.
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