The Osun State Government has moved to obtain the Certified True Copy of the judgment of a United States court on the sentencing of Apetumodu of Ipetumodu, Oba Joseph Oloyede, to prison over a multimillion-dollar COVID-19 relief fund fraud.
Oloyede, 62, a dual citizen of Nigeria and the United States, was on Tuesday sentenced to 56 months in prison 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.
The U.S. Attorney’s Office for the Northern District of Ohio said the monarch will forfeit his Medina, Ohio, home, purchased with proceeds of the scam and an additional $96,006.89 traced to fraud.
He was convicted for leading a conspiracy to exploit COVID-19 emergency loan programmes designed to assist struggling small businesses.
Osun State Commissioner for Local Government and Chieftaincy Matters, Mr. Dosu Babatunde, said the government would not act based on social media 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 said.
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He added that the government would obtain the CTC of the judgment before making any decision regarding the stool.
“We will direct that the Certified True Copy of the judgment be obtained. After studying it, the government will then decide on the next steps,” Babatunde stated.
Meanwhile, calm reigned in Ipetumodu on Wednesday, though residents were observed discussing the issue in hushed tones.
A source told the punch that chiefs in the town held a meeting at the palace, where deliberations centered on the monarch’s fate.
The most senior chief in the community, Sunday Adedeji, when contacted, said, “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 documents revealed that between April 2020 and February 2022, Oloyede, who operated as a tax preparer and owned five businesses and a nonprofit, conspired with 62-year-old Edward Oluwasanmi of Willoughby, Ohio, to submit fraudulent applications for COVID-19 relief loans.
The fraudulent applications targeted the Paycheck Protection Programme and the Economic Injury Disaster Loan scheme under the Coronavirus Aid, Relief, and Economic Security Act.
Using their entities, both men submitted falsified applications, defrauding the U.S. government of more than $4.2m.
Oloyede had pleaded guilty to six counts bordering on conspiracy to commit wire fraud, engaging in monetary transactions with criminally derived property, and making false tax returns.
PUNCH
