Joseph Oloyede, a Nigerian traditional ruler and dual U.S. citizen, has been ordered by a U.S. federal court to forfeit millions in assets following his guilty plea in a $4.2 million COVID-19 relief fraud case.
Oloyede, who holds the chieftaincy title of Apetu of Ipetumodu in Osun State, Nigeria, pleaded guilty on April 24, 2025, to 13 counts of fraud related to the misuse of federal pandemic relief programs.
Though sentencing is still pending, Judge Christopher Boyko of the U.S. District Court for the Northern District of Ohio granted a government motion on May 5 to seize assets linked to the scheme.
Among the assets forfeited is a residential property located in Medina County, Ohio, purchased in May 2021 under the name of his wife, Sherri Oloyede. As part of a negotiated plea deal, both Joseph and Sherri Oloyede agreed not to contest the forfeiture of the property or other assets.
In addition, the court ordered the forfeiture of $96,006.89 from a JP Morgan Chase account registered under Joseph Oloyede and Associates Ltd., a firm implicated in the fraudulent scheme.
Oloyede was arrested on May 4, 2024, after a federal investigation uncovered a network of six companies he used to fraudulently obtain pandemic relief loans by submitting falsified business information.
According to court documents, Oloyede received over $100,000 in June 2020 for four fictitious companies and later secured more than $1 million by October 2021 through JO&A and Available Transportation.
As part of the plea agreement, Oloyede also waived his right to appeal the court’s decision. His sentencing is expected later this year and could include significant prison time in addition to the asset forfeitures.
