Joseph Oloyede, the Apetu of Ipetumodu in Osun state, and
Edward Oluwasanmi, a pastor, have pleaded guilty to swindling the United States
government of $4.2 million in COVID-19 relief funds.
Citing court records, a Punch report said Oluwasanmi
reportedly used his companies – Dayspring Transportation Limited, Dayspring
Holding Incorporated, and Dayspring Property Incorporated – to obtain millions
of dollars, which he later diverted for personal expenses in violation of US
federal laws.
The two men were charged to court on 13 counts, including
conspiracy to commit wire fraud, conspiracy to defraud, money laundering, and
engaging in monetary transactions with criminally derived property.
On April 10, Oluwasanmi, represented by Henry Hilow, a
counsel, pleaded guilty to counts one, 11, and 12 of the indictment.
The counts accused him of using fraud proceeds to purchase
commercial property at 422 South Green Road, South Euclid, Ohio, through wire
transfer, and transferring money into a Dayspring transportation brokerage
account.
According to the report, Oloyede submitted his guilty plea
on Monday.
With a sentencing set for July 2, both men face potential
prison terms.
Oloyede was crowned as the monarch of Ipetumodu in 2019 but
frequently travelled between Nigeria and the US for “royal and personal
engagements”.
Indigenes began raising concerns after his throne was vacant
for nearly a year.
Oloyede and Oluwasanmi were arrested on April 5, 2024,
according to a statement issued by the US department of transportation earlier
this month, revealing the monarch’s whereabouts.
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