Crime Royale: COVID-19 caused $4.2m fraud against the US –Oba Oloyede, Apetu of Ipetumodu

*Oba Joseph Oloyede, Apetu of Ipetumodu, in Osun State of Nigeria, though admits guilt in a a sentencing memorandum on the alleged fraud in $4.2 million COVID-19 relief fund, argues the pandemic was a major factor that instigated him to commit financial crime in the United States

Alexander Davis | ConsumerConnect

Oba Joseph Oloyede, Apetu of Ipetumodu, in Osun State, has admitted guilt in a $4.2 million Coronavirus (COVID-19) relief fraud scandal that stunned both Nigeria and the United States (US).

Oloyede noted this in a sentencing memorandum filed Tuesday, August 19, 2025, before Judge Christopher Boyko of the Northern District of Ohio, in the US.

It was gathered the court had received a fresh plea for leniency from the Apetu of Ipetumodu.

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The monarch, who now faces sentencing scheduled for August 26, through his lawyers, acknowledged his guilt to the US court.

Oba Oloyede, 62, however, argued that the disruptive Coronavirus (COVID-19) pandemic was a major factor that instigated him to commit the financial crime in the American country, Peoples Gazette report said.

The court had postponed an earlier hearing to review his sealed medical records, as the accused royal father, a father of six and foster parent to other children, now awaits sentencing in the United States.

Monarch: ‘COVID-19 affected all of us differently’

The document also quoted Oloyede’s counsel to have said: “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. COVID-19 is not an excuse.

“But it is a factor. Particularly when, as did Joseph, one had to worry that pre-existing health problems could now become fatal if the virus was contracted.”

Earlier, the US Federal Bureau of Investigation (FBI) had arrested the accused monarch May 2024, after he had disappeared from the palace, in Ipetumodu, Nigeria, two months earlier

Concerns over Oloyede’s disappearance from palace

There have been concerns in Ipetumodu about Oba Oloyede’s sudden disappearce, where he was absent during important traditional festivals, including Odun Egungun and Odun Edi.  His prolonged absence has left Ipetumodu without an active monarch, raising questions about succession and the vacuum created by his current ordeal in the United States.

Reports had earlier indicated that the CIA agents arrested Oba Oloyede, in Cleveland, on charges of using six companies to file fraudulent loan applications under the US Paycheck Protection Programme and Economic Injury Disaster Loan schemes.

The US court filings as well showed that the monarch, who emigrated to the US in the late 1990s, later earned a Doctorate degree.

Accused Oba’s plea for leniency before court sentencing

The US court document further noted that Oloyede, for decades, has maintained a clean record, working as an adjunct Professor and banker before returning to Nigeria to be installed as the Apetu of Ipetumodu July 2019.

It is noted that his lawyers have insisted that the fraud the Osun State royal father committed was a sharp departure from his previous life of service and responsibility.

They counsel reportedly claimed that he showed remorse, and accepted blame for his fraudulent actions.

Following his arrest, the prosecutors said he laundered part of the proceeds through personal and business accounts, prompting the US Government to seize a Medina County property in Ohio, and over $96,000 from one of his company’s bank accounts.

The court later granted him bail after surrendering both his US and Nigerian passports but remained under restrictions pending final judgment.

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