A Nigerian pastor, Edward Abiodun Oluwasanmi, has been arrested in the United States for allegedly stealing $4.2 million meant to help businesses during the COVID-19 pandemic. He is accused of working with a Nigerian king, Oba Joseph Oloyede, the Apetu of Ipetumodu, in this scheme.
The FBI claims that Pastor Oluwasanmi used fake documents to get loans intended for struggling businesses. Instead of helping these businesses, he reportedly used the money for personal expenses. He did this through his companies: Dayspring Property Incorporated, Dayspring Holdings, and Dayspring Transportation.
In April 2024, Pastor Oluwasanmi was arrested in Cleveland and later released on a $20,000 bail. Authorities have seized about $620,000 from his accounts and taken his passports to ensure he doesn’t flee before his trial.
King Oba Joseph Oloyede, who was reported missing in March 2024, was found to be in FBI custody. He faces serious charges of defrauding the U.S. government of $4.2 million in COVID-19 relief funds.
Both men are accused of submitting false information to obtain loans meant to support businesses during the pandemic. Instead of using the funds appropriately, they allegedly spent the money on personal items, breaking U.S. federal laws.
The FBI is continuing its investigation to uncover the full extent of their involvement in this fraud scheme.
