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FBI Arrests U.S.-Based mostly Nigerian Pastor for COVID-19 Fraud, Hyperlinks Him to Detained Osun Monarch
The Federal Bureau of Investigation (FBI) has arrested Pastor Edward Abiodun Oluwasanmi, a Nigerian cleric primarily based in the USA, for his alleged involvement in a $4.2 million COVID-19 reduction fraud scheme.
Oluwasanmi is accused of conspiring with Oba Joseph Oloyede, the Apetu of Ipetumodu, to fraudulently receive funds meant for struggling companies throughout the pandemic.
Pastor Used Pretend Paperwork to Safe Tens of millions
In accordance with Peoples Gazette, Oluwasanmi falsified paperwork to entry U.S. authorities reduction loans, diverting the funds for private use by means of his firms:
Dayspring Property Included
Dayspring Holdings
Dayspring Transportation
He was indicted on a 13-count cost and arrested in Cleveland in April, later securing a $20,000 bail.
Investigators uncovered a $221,880 wire switch in September 2020 to buy a business property in Ohio. Additional findings confirmed he transferred $1 million in COVID-19 reduction funds to a brokerage account below Dayspring Transportation on October 26, 2021.
FBI Seizes Pastor’s Funds, Passports
U.S. prosecutors have seized $620,000 from Oluwasanmi, together with:
$599,250 from his Constancy Investments account (Dayspring Transportation)
$20,000 from his Key Checking account (Dayspring Property)
Each his U.S. and Nigerian passports have been confiscated to forestall flight dangers. His trial stays ongoing, and he faces speedy re-arrest if he fails to look in court docket.
Detained Osun Monarch, Oba Oloyede, Additionally Indicted
In the meantime, Oba Joseph Oloyede, who was reported lacking in March 2024, has been confirmed in FBI custody over the identical fraud allegations.
He was arrested on Could 4, 2024, after a grand jury in Ohio’s Northern District Courtroom indicted him alongside Pastor Oluwasanmi for conspiracy, wire fraud, and cash laundering.
How the Monarch Allegedly Executed the Fraud
Courtroom paperwork reveal that Oloyede, an accountant by occupation, used six registered firms to submit pretend functions for COVID-19 reduction funds. These firms embrace:
Obtainable Tax Providers
Obtainable Tutors
Obtainable Monetary
Obtainable Transportation
JO&A
Between April 2020 and February 2022, Oloyede allegedly pocketed $1.7 million for his companies and one other $1.3 million by means of falsified functions for co-conspirators.
Investigations recommend he charged a proportion of the mortgage quantity for serving to others execute comparable fraud schemes.
U.S. Authorities Cracks Down on Pandemic Mortgage Fraud
The case highlights ongoing U.S. federal investigations into fraudulent claims below the Paycheck Safety Program (PPP) and Financial Damage Catastrophe Mortgage (EIDL)—initiatives designed to assist companies throughout the COVID-19 pandemic.
Each Oluwasanmi and Oloyede now face severe authorized penalties, with the FBI intensifying efforts to uncover the complete extent of their operations.
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