Prominent Monarch Disappears From Palace, Reportedly Faces COVID-19 Fraud Trial in US
- Oba Joseph Olugbenga Oloyede of Apetu of Ipetumodu in Osun state is reportedly facing COVID-19 fraud trial in the United States
- The monarch was said to have been indicted in the US for allegedly submitting falsified PPP and EIDL loan applications in the names of other co-conspirators
- Oba Oloyede and another suspect, Edward Oluwasanmi were charged by a federal court in Cleveland
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Legit.ng journalist Adekunle Dada has over 7 years of experience covering metro, government policy, and international events
Osun state - The whereabouts of Apetu of Ipetumodu, Oba Joseph Olugbenga Oloyede, in Osun state is unknown following his disappearance from the palace and Nigeria.
Oba Oloyede reportedly travelled in March 2024 and has not been seen, fueling speculations about his whereabouts.
Source: Original
Many residents said Oloyede’s disappearance was due to his recuperation in the United States of America (USA) while others believed the monarch was facing a fraud trial.
As reported by The Punch, Oba Oloyede, a US-based accountant and information system expert, was appointed new Apetu in July 2019.
It was gathered that Oba Oloyede had been regularly shuttling between Nigeria and his base in the US since his installation.
Residents and indigenes have called Governor Ademola Adeleke to intervene in unraveling the mystery behind the monarch’s disappearance.
A chief in Ipetumodu, who spoke on condition of anonymity said the monarch has not been seen in close to a year in the town.
The chief noted that Oloyede was also missing critical community events.
Oba Oloyede faces fraud charges in the US
According to The Punch, the US indicted one Joseph Oloyede (61), and another defendant, Edward Oluwasanmi (61) around the time the monarch travelled in 2024.
The suspects were indicted for alleged roles in a scheme to fraudulently obtain $4.2m in COVID-19 relief funds.
The US Attorney’s Office of the Northern District of Ohio said Oloyede and Oluwasanmi floated a series of phony businesses to allegedly receive $4.2m in funds designed to help small businesses and employees survive the coronavirus pandemic.
This was contained in a statement issued on April 5, 2024.
The suspects were accused of obtaining COVID-19 relief funds from SBA’s Economic Injury Disaster Loan programme and the Paycheck Protection Programme under false pretenses.
“Oloyede is also alleged to have submitted falsified PPP and EIDL loan applications in the names of other co-conspirators and confederate borrowers and their businesses, obtaining approximately $1.3m through those applications for a total of at least $4.2m obtained through the fraud,”
Investigations revealed that the monarch was born on December 7th, 1962 and he is of the same age with the defendant standing trial in the US.
Also, around the time of his travel to the US was when the trial of the Oloyede in Cleveland happened.
Nigerian man arrested in US for alleged $10m fraud
Meanwhile, Legit.ng reported that Yomi Jones Olayeye, a 40-year-old Nigerian was arrested at John F. Kennedy International Airport and faces charges of wire fraud conspiracy, among others.
Olayeye and his co-conspirators are accused of using stolen personally identifiable information (PII) to fraudulently claim benefits from three pandemic assistance programs.
The charges could result in up to 20 years in prison for wire fraud, with an additional mandatory minimum of two years.
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Source: Legit.ng
