The Osun State Government has spoken on the fate of the Apetu of Ipetumodu, Oba Joseph Olugbenga Oloyede, who was recently jailed in the United States over a multimillion-dollar COVID-19 relief fund fraud.
The government disclosed that it will obtain the Certified True Copy (CTC) of the judgment that sentenced the monarch before making any pronouncement or decision on the matter.
Recall that Oba Oloyede, 62, a dual citizen of Nigeria and the U.S., was on Tuesday sentenced to 56 months imprisonment by U.S. District Judge Christopher A. Boyko. He was also ordered to serve three years of supervised release and refund $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, mansion—purchased with proceeds of the fraud—along with an additional $96,006.89 traced to the crime.
Confirming the development on Wednesday, the Osun Commissioner for Local Government and Chieftaincy Matters, Mr. Dosu Babatunde, said the government would not rely on social media reports in handling such a sensitive issue.
“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,” Babatunde stressed.
He added that the government’s next steps would be determined after receiving and reviewing the judgment.
“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,” he said.
Meanwhile, the town of Ipetumodu has remained calm, although residents were seen discussing the development in hushed tones. Chiefs in the town reportedly held a closed-door meeting at the palace on Wednesday.
The most senior chief, Sunday Adedeji, when contacted, said the community was peaceful and would continue to remain so.
“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,” he stated.
Court records revealed that between April 2020 and February 2022, Oba Oloyede—who worked as a tax preparer and operated five businesses alongside a nonprofit—conspired with 62-year-old Edward Oluwasanmi of Willoughby, Ohio, to submit fraudulent applications for U.S. government COVID-19 relief loans.
The fraudulent scheme targeted both the Paycheck Protection Programme (PPP) and the Economic Injury Disaster Loan (EIDL) scheme, defrauding the U.S. government of over $4.2 million.
Oba Oloyede later pleaded guilty to six counts, including conspiracy to commit wire fraud, engaging in monetary transactions with criminally derived property, and making false tax returns.
