Nigerian traditional ruler chop four years jail term for US sake of wire and tax fraud

Di Apetu of Ipetumodu for Osun State, southwest Nigeria, Oba Joseph Oloyede, don chop more dan four years jail term for di United States afta im plead to wire and tax fraud.

According to di US authorities, di convict wey also get American citizenship bin create and lead one scheme to collect more dan $4.2 million from federal loan and grant programs wey suppose assist small businesses wit economic hardship wey dem suffer sake of Covid-19 pandemic.

Di 62-year-old traditional ruler wey bin dey live for Medina, Ohio, chop 56 months for prison.

Na U.S. District Judge Christopher A. Boyko sentence am on Tuesday 26 August afta e bin plead guilty for April.

Di charges na:

One count of conspiracy to commit wire fraud

Three counts of engaging in monetary transactions in criminally derived property

Two counts of making and subscribing a false tax return

Dem also order Oloyede to serve three years of supervised release afta imprisonment and pay $4,408,543.38 in restitution. E don also forfeit im Medina home on Foote Road, wey e bin acquire wit proceeds of di scheme, and additional $96,006.89 in fraud proceeds investigators don seize.

Court documents show say from about April 2020 to February 2022, Oloyede and im co-conspirator, Edward Oluwasanmi, 62, of Willoughby, bin conspire to submit fraudulent applications for loans wey dem make available through the U.S. Small Business Association (SBA) under di Coronavirus Aid, Relief, and Economic Security (CARES) Act.

"Among di na di Paycheck Protection Program (PPP) and di Economic Injury Disaster Loan (EIDL) program, wey bin aide small businesses wey suffer financial hardship sake of pandemic wit loans and grants," di US Department of Justice tok for statement wey dem release on Tuesday.

Dem say during di investigation, agents find say Oloyede bin operate as tax preparer and own five businesses and one non-profit.

"Im co-defendant—and tax client—Oluwasanmi, bin own additional three business entities; all dey incorporated for Ohio. Both defendants bin use dia businesses to submit loan applications using false information. Dem obtain approximately $1.2 million in SBA funds for Oluwasanmi entities and $1.7 million for Oloyede's entities," di statement tok.