Osun Monarch Sentenced To Over 4 Years Imprisonment For $4.2 Million COVID-19 Fraud In The U.S.
A U.S. court has sentenced the Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede to more than four years imprisonment in Cleveland, Ohio, in the United States. The court handed him the sentence for creating and leading a scheme that defrauded more than $4.2 million from federal loan and grant programs that were intended to assist small businesses with economic hardship they suffered as a result of the COVID-19 pandemic. Oloyede, 62, who holds both U.S. and Nigerian citizenship and resides in Medina, Ohio, was sentenced to 56 months (4 and ⅔ years) in prison by U.S. District Judge Christopher A. Boyko on August 26, 2025 after he pleaded guilty in April to the following charges: one count of Conspiracy to Commit Wire Fraud, three counts of Engaging in Monetary Transactions in Criminally Derived Property, two counts of Making and Subscribing a False Tax Return. The U.S. Attorney's Office for the Northern District of Ohio in a statement on Tuesday s...