Jailed monarch: Osun to obtain US court judgment

The Osun State Government has said it will obtain the Certified True Copy of the judgment of a United States court that sentenced the Apetumodu of Ipetumodu, Oba Joseph Oloyede, to prison over a multimillion-dollar COVID-19 relief fund fraud.

The news had earlier reported that 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.

According to the U.S. Attorney’s Office for the Northern District of Ohio, the monarch forfeited his Medina, Ohio, home, purchased with proceeds of the scheme, 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.

Speaking exclusively to our correspondent on Wednesday, the 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.

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 said that chiefs in the town held a meeting at the palace, where deliberations centred 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.