Nigerian pastor Edward Abiodun Oluwasanmi has been arrested by the FBI for allegedly conspiring with Osun monarch, Oba Joseph Oloyede, to defraud the U.S. government of $4.2 million in COVID-19 relief funds.
Thank you for reading this post, don't forget to subscribe!According to Peoples Gazette, Oluwasanmi used his three companies—Dayspring Property Incorporated, Dayspring Holdings, and Dayspring Transportation—to fraudulently obtain millions in loans meant for struggling businesses. He then diverted the funds for personal use, violating U.S. federal laws.
The pastor was indicted on a 13-count charge of fraud and arrested in Cleveland in April 2024 before being released on a $20,000 bail. As part of the fraudulent scheme, he transferred $221,880 in September 2020 to purchase commercial property in Ohio and later moved $1 million in relief funds to a brokerage account under his company, Dayspring Transportation.
Federal prosecutors have since seized approximately $620,000 from Oluwasanmi, including $599,250 from his Fidelity Investments account and $20,000 from his Key Bank account. His U.S. and Nigerian passports have been confiscated to ensure his compliance with trial proceedings.
Meanwhile, Oba Joseph Oloyede, the Apetu of Ipetumodu, was also arrested by the FBI on May 4, 2024, following a grand jury indictment. The monarch, a U.S. citizen, is accused of orchestrating a fraudulent scheme through his six registered companies, including Available Tax Services, Available Tutors, and Available Transportation. Court records show that he secured over $1.7 million for his businesses and an additional $1.3 million by falsifying loan applications for co-conspirators.
The indictment alleges that from April 2020 to February 2022, Oloyede and Oluwasanmi engaged in wire fraud and money laundering to siphon SBA-guaranteed relief funds. The case against both men is ongoing as the FBI continues its investigation.
