{"id":216646,"date":"2025-08-21T10:22:36","date_gmt":"2025-08-21T10:22:36","guid":{"rendered":"https:\/\/www.withinnigeria.com\/entertainment\/?p=216646"},"modified":"2025-08-21T10:22:36","modified_gmt":"2025-08-21T10:22:36","slug":"why-i-defrauded-america-of-4-2m-%e2%82%a66-4bn-nigerian-monarch-oba-joseph-oloyede-speaks-in-u-s-court","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/entertainment\/2025\/08\/21\/why-i-defrauded-america-of-4-2m-%e2%82%a66-4bn-nigerian-monarch-oba-joseph-oloyede-speaks-in-u-s-court\/","title":{"rendered":"Why I defrauded America of $4.2M (\u20a66.4bn) \u2013 Nigerian Monarch Oba Joseph Oloyede speaks in U.S. Court"},"content":{"rendered":"<p>The Apetu of Ipetumodu, Oba Joseph Oloyede, appeared before a U.S. federal court this week, pleading guilty to a $4.2 million COVID-19 relief fraud case, in a matter that has drawn attention on both sides of the Atlantic.<\/p>\n<p>The monarch\u2019s sentencing hearing, held on Tuesday, August 19, 2025, before Judge Christopher Boyko of the Northern District of Ohio, revealed the pressures and personal circumstances that his defense argues contributed to the unprecedented crime.<\/p>\n<p>According to a sentencing memorandum submitted by his legal team and reported by Peoples Gazette, Oba Oloyede\u2019s involvement in the fraud was influenced by the extraordinary circumstances of the COVID-19 pandemic.<\/p>\n<p>His lawyers noted that the pandemic created unprecedented societal pressures that could \u201cmanifest in conduct we would never expect from ourselves,\u201d emphasized that while the health crisis is not an excuse, it played a key role in the monarch\u2019s actions. They also highlighted Oba Oloyede\u2019s own health challenges during the pandemic as a contributing factor.<\/p>\n<p>Oba Oloyede, who migrated to the United States in the late 1990s, previously established a reputable career as a banker and adjunct professor before returning to Nigeria in 2019 to ascend the throne of Ipetumodu. His defense stressed that the crime represents a sharp departure from his longstanding record of service, discipline, and leadership.<\/p>\n<p>The court also learned that portions of the fraud proceeds were laundered through personal and business accounts, prompting the seizure of a Medina County property in Ohio and over $96,000 from one company\u2019s bank account.<\/p>\n<p>A father of six and foster parent to several others, Oba Oloyede has been granted bail after surrendering his U.S. and Nigerian passports, remaining under court supervision pending sentencing.<\/p>\n<p>The monarch is scheduled to be formally sentenced on August 26, 2025, in a case that continues to capture attention across Nigeria and the United States, raising questions about the intersection of traditional leadership and transnational legal accountability.<\/p>\n<p><a href=\"https:\/\/www.google.com\/amp\/s\/www.withinnigeria.com\/gist\/2025\/05\/22\/royal-scandals-nigerian-monarchs-caught-in-web-of-fraud-property-losses-and-public-scrutiny\/%3famp=1\">The U.S. Federal Bureau of Investigation (FBI) had tracked Oba Oloyede in May 2024<\/a>, after he reportedly disappeared from Nigeria two months prior. His absence sparked concern in Ipetumodu, particularly as he missed major traditional festivals, including Odun Egungun and Odun Edi. Court documents revealed that the monarch used six companies to submit fraudulent loan applications under the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) schemes, defrauding the U.S. government of millions of dollars.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Apetu of Ipetumodu, Oba Joseph Oloyede, appeared before a U.S. federal court this week, pleading guilty to a $4.2 million COVID-19 relief fraud case, in a matter that has drawn attention on both sides of the Atlantic. The monarch\u2019s sentencing hearing, held on Tuesday, August 19, 2025, before Judge Christopher Boyko of the Northern [&hellip;]<\/p>\n","protected":false},"author":28,"featured_media":216648,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"2","single_blog_custom":"94000","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"1","zoom_button_out_step":"3","zoom_button_in_step":"3","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":""},"jnews_primary_category":[],"footnotes":""},"categories":[3,1],"tags":[4607,34282,34281,34283],"class_list":["post-216646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-celebrities","category-general","tag-fbi","tag-oba-joseph-oloyede","tag-the-apetu-of-ipetumodu","tag-the-u-s-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.7 (Yoast SEO v28.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why I defrauded America of $4.2M (\u20a66.4bn) \u2013 Nigerian Monarch Oba Joseph Oloyede speaks in U.S. Court<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/entertainment\/2025\/08\/21\/why-i-defrauded-america-of-4-2m-\u20a66-4bn-nigerian-monarch-oba-joseph-oloyede-speaks-in-u-s-court\/\" \/>\n<meta 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