Nigerian pastor and Osun monarch indicted for $4.2 million COVID-19 fraud in U.S.
Nigerian pastor Edward Abiodun Oluwasanmi and Osun monarch Oba Joseph Oloyede have been indicted by a U.S. court for allegedly defrauding the U.S. government of $4.2 million in COVID-19 relief funds. The FBI arrested Oluwasanmi in Cleveland, Ohio, in April, while Oloyede, the Apetu of Ipetumodu, was detained in May after being reported missing in Nigeria.
The U.S. District Court for the Northern District of Ohio charged both men with conspiracy, wire fraud, and money laundering. According to court documents, Oluwasanmi used his companies—Dayspring Property Incorporated, Dayspring Holdings, and Dayspring Transportation—to submit falsified loan applications for pandemic relief funds. In October 2021, he allegedly transferred $1 million of the fraudulently obtained funds to a brokerage account under Dayspring Transportation.
Authorities seized approximately $620,000 from Oluwasanmi’s accounts, including $599,250 from a Fidelity Investments account and $20,000 from a Key Bank account. He was released on a $20,000 bail but had his U.S. and Nigerian passports confiscated to ensure court compliance.
Meanwhile, Oba Oloyede was found in FBI custody after going missing in March 2024. Prosecutors allege that he orchestrated fraudulent loan schemes through his six registered companies, securing over $100,000 in loans in June 2020, followed by two $500,000 loans in October 2021. He also reportedly assisted other fraudsters, collecting a percentage of their loan amounts upon disbursement.
A grand jury indicted both men on April 3, 2024, for defrauding the U.S. Small Business Administration’s pandemic relief programs between April 2020 and February 2022. The FBI continues to investigate the case as prosecutors seek the forfeiture of fraudulent proceeds.
