The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede is facing a possible prison sentence in the United States, after pleading guilty to charges of COVID-19 relief fraud along with a Nigerian pastor, Edward Oluwasanmi.
Oba Oloyede, who is a US-based accountant and information system expert, was appointed the new Apetu in July 2019.
The monarch and Oluwasanmi were arrested in early 2024 for their roles in a scheme to fraudulently obtain $4.2m in COVID-19 relief funds.
The two men were charged with 13 counts of conspiracy to commit wire fraud, wire fraud, conspiracy to defraud, money laundering, and engaging in monetary transactions in criminally derived property.
They were arraigned before Justice Christopher Boyko of the US District Court of Ohio.
Punch had exclusively reported the arraignment of Oloyede while residents of Ipetumodu were at a loss over his disappearance from the community after a trip abroad.
Our correspondent had reported that there was anxiety in the community after the 62-year-old was absent from several important festivals that required his presence.
After investigating, Punch confirmed that the monarch was being held by the US authorities.
According to court documents obtained by our correspondent, Oloyede and Oluwasanmi submitted falsified applications for Paycheck Protection Programme and Economic Injury Disaster Loans under the US Coronavirus Aid, Relief and Economic Security Act between April 2020 and February 2022, using fake tax and wage documents to secure funds meant to support struggling businesses during the pandemic.
The Act was designed to provide emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic by issuing loans to small businesses and non-profit entities experiencing revenue loss due to the pandemic.
The Act also authorised the US Small Business Administration to issue advances or grants of up to $10,000 to small businesses.