Apetu of Ipetumodu, Osun Monarch, was discovered in an FBI net worth over $4.2 million in COVID-19.
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The U.S. Federal Bureau of Investigation (FBI) has found Oba Joseph Oloyede, the Apetu of Ipetumodu, in jail after he inexplicably vanished in March 2024. He is accused of embezzling $4.2 million in COVID-19 relief monies from the U.S. government.
The U.S. District Court for the Northern District of Ohio is currently hearing the 13-count framed indictment against the Nigerian king, who is also an American citizen. Since he missed important traditional celebrations like the yearly Odun Egungun and Odun Edi, his protracted absence has left the royal stool empty for almost a year, which has caused anxiety among indigenous people. Records from the FBI show that Oba Oloyede was taken into custody on May 4, 2024, after an order from the U.S. District Court.
He allegedly used six registered firms to construct a fraudulent scheme to get pandemic relief loans intended for suffering businesses, according to investigations. He filed false financial records to obtain loans under the Economic Injury Disaster Loan (EIDL) program, according to the indictment. Four of his businesses—Available Tax Services, Available Tutors, Available Financial, and Available Transportation—received loans totaling more than $100,000 in June 2020 alone. By October 2021, he had secured two more $500,000 loans for Available Transportation and his business, JO&A.
According to additional findings, the monarch, who works as an accountant, allegedly helped other conspirators carry out similar fraudulent schemes by charging them a portion of the loan money when it was disbursed. "Oloyede helped confederate borrowers and co-conspirators." According to the accusation, "who submitted and caused to be submitted PPP and EIDL loan applications containing false information." The king went back to the United States, unaware that he was about to be indicted, and was quickly taken into custody. #trendingstory #instablog9janews #awareness #StayUpdated
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