Oba Joseph Oloyede, the monarch of Ipetumodu, Osun State, has been sentenced to prison in the United States over a multi-million-dollar fraud case.
The trial judge, Christopher Boyko, on Tuesday convicted the monarch on charges related to a $4.2 million COVID-19 fraud scheme.
DAILY POST recalls that Oba Oloyede, alongside Nigerian pastor Edward Oluwasanmi, was arrested in April 2024 for submitting fraudulent loan applications with false information.
Delivering judgment, Justice Boyko sentenced Oba Oloyede to 56 months in prison, ordered him to serve 3 years of supervised release after jail time, and to pay $4,408,543 in restitution.
According to the US Attorney’s Office, Northern District of Ohio, the monarch will also forfeit $96,006 earlier seized by investigators, as well as his Medina residence.
It will be recalled that in July 2025, Pastor Oluwasanmi was sentenced to 27 months imprisonment in connection with the same case.
