Recent reports indicate that the Federal Bureau of Investigation (FBI) has arrested Joseph Oloyede, the Apetu of Ipetumodu in Osun State, Nigeria, on charges of conspiracy, wire fraud, and money laundering related to a fraudulent COVID-19 relief scheme. Oloyede and his associate, Edward Oluwasanmi, are accused of fraudulently obtaining over $4.2 million in COVID-19 relief funds by submitting false applications to the U.S. Small Business Administration. These applications allegedly contained fabricated tax information and wage documents.
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Oloyede, who ascended to the throne in 2019, had been regularly traveling between Nigeria and the U.S. His unexplained absence for over a year had raised concerns in his community, as he missed significant cultural events, including the Egungun Festival and Edi Celebration. The recent revelations about his arrest have provided clarity regarding his prolonged disappearance.
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Investigations into the fraudulent scheme are being conducted by the FBI and the Internal Revenue Service Criminal Investigation Division (IRS-CI). Authorities allege that Oloyede and Oluwasanmi misappropriated funds intended to support businesses affected by the COVID-19 pandemic.
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This case highlights ongoing efforts by U.S. law enforcement agencies to combat fraud, particularly schemes exploiting relief programs established during the pandemic.
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