FBI arrests US-based Nigerian pastor linked to Osun monarch’s multimillion-dollar COVID-19 fraud case

A United States-based Nigerian pastor, Edward Abiodun Oluwasanmi, has been reportedly arrested by the FBI for allegedly conspiring with an Osun State monarch, Oba Joseph Oloyede, the Apetu of Ipetumodu, to defraud the U.S. government of $4.2 million in COVID-19 relief funds.

According to reports, Oluwasanmi was indicted by the FBI for using three of his companies, Dayspring Property Incorporated, Dayspring Holdings, and Dayspring Transportation, to secure millions of dollars in fraudulent loans.

The indictment stated that the pastor, along with Oloyede who was arrested last year by the FBI, submitted forged documents to obtain loans meant to support struggling businesses during the pandemic, which he then diverted for personal use, thereby violating U.S. federal laws.

According to the report, on October 26, 2021, the pastor had transferred $1 million in COVID-19 relief funds to a brokerage account belonging to Dayspring Transportation, his company.

Oluwasanmi was indicted on a 13-count charge of fraud and arrested in Cleveland in April, 2024, before being released on a $20,000 bail.

The FBI report noted that Oluwasanmi’s questionable financial dealings also include a wire transfer of $221,880 in September 2020 to purchase a commercial property in Ohio while the case against him is ongoing, with the FBI investigating the extent of his involvement in the fraud scheme.

U.S. prosecutors have already seized approximately $620,000 from the Nigerian pastor and are seeking the forfeiture of both the confiscated sum and other assets acquired through fraudulent proceeds.

“On April 5, 2024, the FBI seized $599,250 from Oluwasanmi’s Dayspring Transportation account with Fidelity Investments (ending in –5800). An additional $20,000 was confiscated from his Dayspring Property account (ending in –3548) at Key Bank on the same day,” the report said.

“Both his U.S. and Nigerian passports were seized to ensure his compliance with trial proceedings. His U.S. passport lists his name as Edward Olanrewaju Abiodun Oluwasanmi.

“As part of his bail conditions, he faces immediate re-arrest if he fails to appear in court for his trial.”

The Osun monarch was reported missing in March 2024, but was later discovered to have been arrested and detained by the FBI and is currently facing charges of defrauding the U.S. government of $4.2 million in COVID-19 relief funds in the U.S. District Court for the Northern District of Ohio.

According to U.S. court documents, Oloyede was arrested on May 4, 2024, after a warrant was issued for his arrest for allegedly orchestrating a fraudulent scheme through his six registered companies, obtaining loans meant for struggling businesses during the COVID-19 pandemic.

FBI records show that in June 2020, Oloyede secured over $100,000 in loans for four of his six companies, including Available Tax Services, Available Tutors, Available Financial, and Available Transportation. On October 7, 2021, he received a $500,000 loan for JO&A, followed by another $500,000 loan two days later for Available Transportation.

Further investigations suggest that the monarch, an accountant by profession, assisted co-conspirators in executing similar fraud schemes, charging them a percentage of the loan amount upon disbursement.

“Oloyede assisted co-conspirators and confederate borrowers who submitted and caused to be submitted PPP and EIDL loan applications containing false information,” the indictment stated.

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