Osun Monarch Loses Home, Gets Jail Term in $4.2m US Fraud Case

The Apetu of Ipetumodu in Osun State, Oba Joseph Olugbenga Oloyede, has been sentenced to 56 months in prison by a United States District Court for his involvement in a $4.2 million COVID-19 relief fraud scheme. The sentencing took place on August 26, 2025, before Judge Christopher A. Boyko of the Northern District of Ohio, following the monarch’s guilty plea in April.

According to prosecutors, Oloyede conspired with others to fraudulently obtain pandemic relief loans meant for struggling American businesses and workers. He was found to have diverted the funds to acquire personal assets, including a luxury residence in Medina, Ohio.

As part of his punishment, the monarch was ordered to pay $4,408,543.38 in restitution, forfeit his Ohio property and nearly $96,000 in seized funds, and serve three years of supervised release after completing his prison term. His co-conspirator, Nigerian pastor Edward Oluwasanmi, was earlier jailed for 27 months in July for his role in the scheme.

The conviction has stirred shock in Ipetumodu and across Nigeria, with concerns raised about the damage to the image of traditional rulers. U.S. authorities said the case is part of ongoing efforts to recover billions of dollars lost to pandemic-related fraud.