₦airaland Forum

The Apetu of Ipetumodu, Oba Joseph Oloyede, who went missing in March 2024, has been discovered in FBI custody, facing allegations of defrauding the U.S. government of $4.2 million in COVID-19 relief funds.

The Nigerian monarch, who also holds American citizenship, is battling a 13-count fraud indictment at the U.S. District Court for the Northern District of Ohio.

His prolonged absence has left the royal stool of Ipetumodu vacant for nearly a year, stirring serious concerns among indigenes, especially as he missed three major traditional festivals, including the annual Odun Egungun and Odun Edi.

Mr Oloyede, based in Cleveland, was arrested on May 4, 2024, after the U.S. District Court issued a warrant for his apprehension. The FBI accused him of orchestrating a scheme through his six registered companies to fraudulently obtain loans meant for struggling businesses during the COVID-19 pandemic.

To alleviate the economic devastation caused by the COVID-19 pandemic in 2020, the U.S. government allowed small business owners to request financial aid like the Economic Injury Disaster Loan (EIDL), which must be used for certain expenses that include paying fixed debts, payroll and other “permissible” bills.

Loan applicants were required to submit their quarterly federal and annual tax returns, wage and tax statements and other supporting documents to show that their businesses might collapse without external aid in light of the global health crisis.

The FBI found out that Mr Oloyede not only falsified the supporting documents he submitted to apply for the loans but also diverted the money for his own personal use, violating federal laws.

FBI records show that In June 2020 alone, Mr Oloyede received over $100,000 loan for four of his six companies, including Available Tax Services, Available Tutors, Available Financial and Available Transportation.

On October 7, 2021, Mr Oloyede was awarded a $500,000 loan for his company JO&A. Two days later, he got another $500,000 loan for Available Transportation.

Further investigations revealed that the monarch, with a background in accounting, also assisted co-conspirators in executing similar fraud schemes, charging them a percentage of the loan amount upon disbursement.

“Oloyede assisted co-conspirators and confederate borrowers who submitted and caused to be submitted PPP and EIDL loan applications containing false information,” stated the indictment filed on April 3, 2024.

Unaware that he had been indicted, Mr Oloyede left Nigeria and returned to the U.S., where his family is based. It did not take long before the FBI swooped him into custody after he landed on U.S. soil.

Crowned in 2019, the Apetumodu often shuffled between Nigeria to attend to his royal duties and the U.S. to visit his family.

It is unclear whether the indigenes of Ipetumodu were aware of the damning allegations hanging on their monarch’s head and whether the town will choose a new ruler should Mr Oloyede be found guilty and sentenced to prison.

descarado:
Is being a fraudster a criteria for becoming a leader in this country?

We should start adding this to our CV then

ednut1:
These are the kind of people Ifa is selecting to become kongs Then Ifa must be 🤐. Naso dem deport Oluwo of Iwo too from usa for fraud. This is shameful

Okaynaw:
Femi gbaja was deported for doing credit card fraud, he is now a minister in Yoruba presidency

ednut1:
he was not deported and he didn’t do credit card fraud. Dapo abiodun did credit card fraud. Gbaja stole a clients money and disbarred . By then he was already in Nigeria and didn’t go back to face the case 😭😂

https://www.nairaland.com/7844411/us-panel-terminates-gbajabiamilas-law

Okaynaw:
Yes it’s true thier names are confusing me because all of them in Yoruba land do the same thing .

I fell like you have not made It as a man in YorubaLAND if you have not done something like bobo Chicago

ednut1:
😒. Did pa okoya, adenuga, otedola, oba otudeko etc do something like this to hammer?

ehikwe22:
All top Yoruba monarchs are career fraudsters and drug dealers. Ooni, Oluwo and then this. Not forgetting Tinubu who installs these monarchs.

This doesn't speak well of the Yoruba race

Okaynaw:
Yes it’s true thier names are confusing me because all of them in Yoruba land do the same thing .

I fell like you have not made It as a man in YorubaLAND if you have not done something like bobo Chicago

ednut1:
😒. Did pa okoya, adenuga, otedola, oba otudeko etc do something like this to hammer?

blacknp:
I fell like you have not made It as a man in Igbo Land if you have not done something like bobo Chiedu.

blacknp:
I fell like you have not made It as a man in Igbo Land if you have not done something like bobo Chiedu.

Okaynaw:
Yoruba greatness

Killerofpigs:
You are a gathering of criminals

Sophisticated ole!!!

descarado:
Is being a fraudster a criteria for becoming a leader in this country?

We should start adding this to our CV then

Okaynaw:
Na them be wazobia of crimes

Them get cannibal market

Killerofpigs:
Beerfraud...omo..

So IFA is now appointing yahoo OBAs?

No wonder you guys are actually worthless after shouting

RONU.....foolishly

Killerofpigs:
The market is called JANKARA Market...in Lagos Island of Lagos State.

You can buy fresh head...hands..legs..lungs..hearts...any human part you want sef.

They are very diabolical and devilish people..

See what an IJAW person write about them.

Very shameful..

Elusive001:
Check their political leaders since 1999. Check their records in the USA.

Okaynaw:
So they are full blown cannibals ?

Killerofpigs:
See a Summary here

They claim sainthood but are the bastion of

Corruption
Fraud
Identity theft
Document forgeries
Ritualism
Human Organ harvesting
Credit card frauds
Yahoo and Yahoo plus


Anything they accuse you if..they do it 100 times more.

See the summary of their so called leadership.

Even Obasa that was impeached and claimed to be a lawyer is a scam. Just imagine!

Okaynaw:
What if those owambe meat are people’s children 🤮