The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, has been sentenced to more than four years in prison in the United States for his role in a multi-million-dollar COVID-19 relief fraud.

Oloyede, 62, who holds dual Nigerian and U.S. citizenship and lives in Medina, Ohio, was on Monday handed a 56-month prison term by U.S. District Judge Christopher A. Boyko. He was also ordered to serve three years of supervised release and pay $4,408,543.38 in restitution.

In addition, prosecutors said the monarch forfeited his Medina home, which was purchased with proceeds of the fraud—and more than $96,000 seized during the investigation.

According to the U.S. Attorney’s Office for the Northern District of Ohio, Oloyede led a conspiracy to exploit emergency loan programmes created under the Coronavirus Aid, Relief and Economic Security (CARES) Act.

From April 2020 to February 2022, Oloyede and his co-conspirator, Edward Oluwasanmi, submitted dozens of fraudulent applications for loans from the U.S. Small Business Administration.

Both men pleaded guilty in April to wire fraud and tax fraud charges. Prosecutors told the court that Oloyede, who also worked as a tax preparer, used his five businesses and a nonprofit to file bogus applications, while Oluwasanmi used three entities. Together, they secured millions in pandemic relief funds—$1.7 million for Oloyede’s firms and $1.2 million for Oluwasanmi’s.

Investigators also found that Oloyede filed fraudulent Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) applications in the names of his clients, charging them a 15–20% “fee” from the proceeds, which he never reported to the IRS.

Prosecutors said he used the stolen funds to buy land, build a house, and purchase a luxury vehicle. In total, Oloyede was linked to 38 fraudulent loan applications worth over $4.2 million.

His co-conspirator, Oluwasanmi, 62, of Willoughby, Ohio, was sentenced in July to 27 months in prison. He was also ordered to pay more than $1.2 million in restitution, forfeit a commercial property, and surrender over $600,000 in bank accounts tied to the scheme.

The U.S. Attorney’s Office said the case was investigated by the Department of Transportation Office of the Inspector General, the FBI Cleveland Division, and IRS-Criminal Investigations, under the Pandemic Response Accountability Committee Fraud Task Force.

Assistant U.S. Attorneys Edward D. Brydle and James L. Morford prosecuted the case.