HRH, Joseph Oloyede, the Apetu of Ipetumodu in Osun state, and one Edward Oluwasanmi, a pastor, have pleaded guilty to swindling the United States government of $4.2 million in COVID-19 relief funds.
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.
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According to reports, 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 to raise 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.
