FBI Arrests U.S.-Based Nigerian Pastor for COVID-19 Fraud, Links Him to Detained Osun Monarch
The Federal Bureau of Investigation (FBI) has arrested Pastor Edward Abiodun Oluwasanmi, a Nigerian cleric based in the United States, for his alleged involvement in a $4.2 million COVID-19 relief fraud scheme.
Oluwasanmi is accused of conspiring with Oba Joseph Oloyede, the Apetu of Ipetumodu, to fraudulently obtain funds meant for struggling businesses during the pandemic.
Pastor Used Fake Documents to Secure Millions
According to Peoples Gazette, Oluwasanmi falsified documents to access U.S. government relief loans, diverting the funds for personal use through his companies:
- Dayspring Property Incorporated
- Dayspring Holdings
- Dayspring Transportation
He was indicted on a 13-count charge and arrested in Cleveland in April, later securing a $20,000 bail.
Investigators uncovered a $221,880 wire transfer in September 2020 to purchase a commercial property in Ohio. Further findings showed he transferred $1 million in COVID-19 relief funds to a brokerage account under Dayspring Transportation on October 26, 2021.
FBI Seizes Pastor’s Funds, Passports
U.S. prosecutors have seized $620,000 from Oluwasanmi, including:
- $599,250 from his Fidelity Investments account (Dayspring Transportation)
- $20,000 from his Key Bank account (Dayspring Property)
Both his U.S. and Nigerian passports have been confiscated to prevent flight risks. His trial remains ongoing, and he faces immediate re-arrest if he fails to appear in court.
Detained Osun Monarch, Oba Oloyede, Also Indicted
Meanwhile, Oba Joseph Oloyede, who was reported missing in March 2024, has been confirmed in FBI custody over the same fraud allegations.
He was arrested on May 4, 2024, after a grand jury in Ohio’s Northern District Court indicted him alongside Pastor Oluwasanmi for conspiracy, wire fraud, and money laundering.
How the Monarch Allegedly Executed the Fraud
Court documents reveal that Oloyede, an accountant by profession, used six registered companies to submit fake applications for COVID-19 relief funds. These companies include:
- Available Tax Services
- Available Tutors
- Available Financial
- Available Transportation
- JO&A
Between April 2020 and February 2022, Oloyede allegedly pocketed $1.7 million for his businesses and another $1.3 million through falsified applications for co-conspirators.
Investigations suggest he charged a percentage of the loan amount for helping others execute similar fraud schemes.
U.S. Government Cracks Down on Pandemic Loan Fraud
The case highlights ongoing U.S. federal investigations into fraudulent claims under the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL)—initiatives designed to support businesses during the COVID-19 pandemic.
Both Oluwasanmi and Oloyede now face serious legal consequences, with the FBI intensifying efforts to uncover the full extent of their operations.