By Gideon Njoku
A thought-to-be-missing Yoruba King is not missing, afterall. Oba Joseph Oloyede, the Apetu of Ipetumodu is cooling his leg in the cold cell of the Federal Bureau of Intelligence, FBI, United States of America.
His arrest is connected to an alleged $4.2M COVID-19 Fraud. The Oba suddenly was out of circulation in his community. According to sources, he disappeared
since March 2024.
His worried subjects, home and abroad, began a frantic search for him when his absence was noticed at important traditional festivals.
For instance, he was absent at the Odun Egungun and Odun Edi Festivals. His subjects were left without a king for one year. He left the stool vacant. The mysterious disappearance and anxiety ended when he was discovered to be in the custody of the FBI.
An American citizen, the Oba was unaware of his indictment on fraud charges in Ohio, United States of America, when he left his kingdom for a trip to the USA. On arrival, he was promptly taken into custody by the FBI.
He is accused of, allegedly, defrauding the U.S. Government of $4.2 million in COVID-19 relief funds and has been charged of a 13-count fraud indictment at the U.S. District Court for the Northern District of Ohio.
Oba Oloyede who is based in Cleveland, Ohio, was arrested on May 4, 2024, based on a court-issued warrant.
He is accused by the FBI of using six registered companies, owned by him to fraudulently obtain COVID-19 relief loans set aside for struggling businesses.
It was discovered by
Investigators that in June 2020, Oba Oloyede received about $100,000 in loans for four of his companies. They include: Available Tax Services, Available Tutors, Available Financial, and Available Transportation.
Again, later, in October 2021, he secured a $500,000 loan for JO&A, and another $500,000 for Available Transportation, 48 hours later.
He is also, alleged, to have helped co-conspirators in similar fraudulent schemes, and charged percentages on the loan amount on disbursement.
The April 3, 2024, indictment, accuses the Monarch of submitting, deliberately, “false loan applications and manipulated financial records.”
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