Oba Oloyede, who migrated to the United States in the late 1990s, was arrested by the Federal Bureau of Investigation (FBI) in May 2024
US Court Hears Plea for Leniency as Nigerian Monarch Admits $4.2m COVID Relief Fraud
The Apetu of Ipetumodu, Oba Joseph Oloyede, has begged for leniency before a United States court after admitting his role in a $4.2 million COVID-19 relief fraud that has rattled both Nigeria and the U.S.
In a sentencing memorandum filed on Tuesday, August 19, 2025, before Judge Christopher Boyko of the Northern District of Ohio, the monarch’s legal team argued that the unprecedented disruption of the coronavirus pandemic played a central role in his actions.
“COVID-19 affected all of us differently. Conduct that we would never expect from ourselves or others sometimes manifested itself as we encountered a completely different society,” his counsel stated. While conceding that the pandemic was no excuse, the defense insisted it was a major factor for the 62-year-old royal, who also struggled with health challenges during the outbreak.
Oba Oloyede, who migrated to the United States in the late 1990s, was arrested by the Federal Bureau of Investigation (FBI) in May 2024 after disappearing from Nigeria two months earlier. His unexplained absence sparked concern in Ipetumodu, Osun State, particularly after he missed major cultural festivals, including Odun Egungun and Odun Edi.
Prosecutors alleged that he masterminded a scheme in which six companies under his control filed fraudulent applications for U.S. federal relief funds through the Paycheck Protection Programme (PPP) and the Economic Injury Disaster Loan (EIDL) scheme.
Court filings revealed that portions of the funds were laundered through personal and corporate accounts. Investigators also seized a Medina County property in Ohio and confiscated more than $96,000 from one of his company’s accounts.
Before returning to Nigeria in 2019 to ascend the throne of Ipetumodu, Oba Oloyede had enjoyed a reputation in the United States as a banker and adjunct professor. His lawyers stressed that his involvement in the fraud was “a stark deviation” from his previous record of responsibility, service, and community leadership. They noted that he had expressed remorse and taken full responsibility.
The monarch, a father of six and foster parent to several others, was granted bail after surrendering both his Nigerian and U.S. passports. He has since remained under strict court supervision.
Sentencing is scheduled for August 26, 2025, with Judge Boyko expected to weigh possible penalties ranging from a lengthy prison term to significant asset forfeiture. Read More
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