The Federal Bureau of Investigation (FBI) has arrested Nigerian Pastor Edward Abiodun Oluwasanmi for allegedly conspiring with Osun monarch, Oba Joseph Oloyede, to defraud the U.S. government of $4.2 million in COVID-19 relief funds.
According to reports, Pastor Oluwasanmi utilized three companies—Dayspring Property Incorporated, Dayspring Holdings, and Dayspring Transportation—to submit forged documents and secure loans intended to support businesses during the pandemic. Instead of aiding struggling enterprises, the funds were diverted for personal use, in violation of federal laws.
In April 2024, Oluwasanmi was indicted on a 13-count fraud charge and arrested in Cleveland. He was subsequently released on a $20,000 bail, with conditions ensuring his appearance at trial. Investigations revealed that in September 2020, he wired approximately $221,880 to purchase a commercial property in Ohio. Additionally, on October 26, 2021, he transferred $1 million in COVID-19 relief funds to a brokerage account belonging to Dayspring Transportation.
Authorities have seized about $620,000 from Oluwasanmi's accounts and are seeking forfeiture of these funds, along with other assets acquired through fraudulent means. On April 5, 2024, the FBI confiscated $599,250 from his Dayspring Transportation account with Fidelity Investments and nearly $20,000 from his Dayspring Property account at Key Bank.
Both his U.S. and Nigerian passports have been seized to ensure compliance with trial proceedings. Failure to appear in court as required will result in immediate re-arrest.
This case is linked to the earlier arrest of Oba Joseph Oloyede, the Apetu of Ipetumodu, who was found in FBI custody facing similar charges of defrauding the U.S. government of $4.2 million in COVID-19 relief funds. The monarch allegedly orchestrated a fraudulent scheme through six registered companies, obtaining loans meant for struggling businesses during the pandemic.
These arrests highlight ongoing efforts by U.S. authorities to combat fraud related to pandemic relief funds and hold accountable those exploiting financial assistance programs.