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JUST IN : $4.2m COVID-19 fraud : Apetu of Ipetumodu, Oba Olugbenga Oloyede.jailed four years in US

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The Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, has been sentenced to more than four years in prison in the United States.

Oloyede, 62, who holds dual U.S. and Nigerian citizenship and resides in Medina, Ohio, was on August 26 handed 56 months in prison by U.S. District Judge Christopher A. Boyko.

According to the U.S. Attorney’s Office for the Northern District of Ohio in a statement on Tuesday, the monarch, was also ordered to “serve three years of supervised release after imprisonment and pay $4,408,543.38 in restitution.

“He also forfeited his Medina home on Foote Road, which he had acquired with proceeds of the scheme, and an additional $96,006.89 in fraud proceeds investigators had seized,” the statement read.

The U.S. Attorney’s Office said Oloyede led a conspiracy to exploit COVID-19 emergency loan programmes created for struggling businesses.

“From about April 2020 to February 2022, Oloyede and his co-conspirator, Edward Oluwasanmi, conspired to submit fraudulent applications for loans that were made available through the U.S. Small Business Association (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act,” the statement read.

In April, the duo pleaded guilty to wire fraud and tax fraud charges linked to a pandemic relief scam that siphoned over $4.2m in federal stimulus funds.

The court was told that Oloyede, who also worked as a tax preparer, “operated five businesses and one nonprofit, while Oluwasanmi owned an additional three business entities.

“Both defendants used their businesses to submit loan applications using false information.

“They obtained approximately $1.2 million in SBA funds for Oluwasanmi’s entities and $1.7 million for Oloyede’s entities,” the statement added.

According to investigators, “Oloyede submitted fraudulent PPP and EIDL applications in the names of some of his clients and their businesses.

“In exchange, Oloyede would receive 15-20% of their loans as the fee, or kickback, for obtaining the loans for them, without reporting this income to the IRS on his own tax returns.”

The funds were then used for personal gain, prosecutors said.

“Investigators learned that the defendant used funds obtained from these loans to acquire land and build a home and purchase a luxury vehicle,” the U.S. Attorney’s Office disclosed.

In all, Oloyede “caused the SBA to approve 38 fraudulent applications, amounting to $4,213,378 in disbursed loans and advances.”

His co-conspirator, Oluwasanmi, 62, of Willoughby, was earlier sentenced in July to 27 months in prison.

He was also ordered to pay more than $1.2 million in restitution, forfeit a commercial property purchased with fraud proceeds, and surrender more than $600,000 held in financial accounts.

The U.S. Attorney’s Office emphasized the significance of the conviction, noting that the case was jointly investigated by the Department of Transportation Office of the Inspector General, the FBI Cleveland Division, and IRS-Criminal Investigations as part of the Pandemic Response Accountability Committee Fraud Task Force.

“This case was prosecuted by Assistant United States Attorneys Edward D. Brydle and James L. Morford for the Northern District of Ohio,” the release concluded.

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Tinubu Commends APC Primaries, Describes Exercise as Victory for Internal Democracy

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…President expresses satisfaction with governors’ handling of exercise

…Says party members’ support places greater responsibility on him

President Bola Ahmed Tinubu on Saturday described the ongoing presidential primaries of the All Progressives Congress (APC) as a demonstration of internal democracy and grassroots participation, expressing satisfaction with the conduct of the exercise across the country.

The President spoke with journalists after participating in the primary election at Ward L2, Ikoyi, Lagos, where he commended state governors and party officials for managing the process.

President Tinubu, who arrived at the venue alongside the First Lady, Senator Oluremi Tinubu, was received by Lagos State Governor, Babajide Sanwo-Olu, Lagos APC Chairman Pastor Cornelius Ojelabi, Minister of Industry, Trade and Investment Dr. Jumoke Oduwole, former Minister of Finance Wale Edun, and other party leaders.

According to him, the exercise has so far reflected the democratic ideals of inclusiveness and orderly participation within the ruling party.

“This is a demonstration of internal democracy and it has been going very well according to plan.

“This is politics, grassroots politics, where every member of the party has a right to participate and be involved. It’s to ensure that we have an internal democracy and it’s peaceful and well-organized”, Tinubu said.

Responding to questions on whether he was satisfied with the manner governors had handled the process in their respective states, the President said the conduct of the primaries had met expectations.

“Today, I am very satisfied, very, very satisfied that these governors have done well in their various states.

“In fact, from the ward congresses to local government congresses, to the delegate accreditation, validation, members register, and certification of the electoral process, it has been all very well. At least, you will score democracy at a high level”, he said.

The President also reacted to the large turnout and expressions of support from party members and supporters at the venue, saying the show of confidence increased the responsibility on him.

“I’m just excited. They challenge me more,” Tinubu said.

Tinubu reiterated that the APC remained committed to transparent and inclusive democratic processes that allow party members at the grassroots to freely determine their leaders and representatives.

He further commended electoral officials, party leaders and security agencies for ensuring a peaceful and credible exercise, while urging Nigerians to continue supporting democratic institutions and national unity.

The President also reaffirmed his administration’s commitment to democratic ideals, good governance and policies aimed at improving the welfare of Nigerians while strengthening political stability across the country.

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Truck Loaded With Stolen Rail Materials Trapped in Jos, Exposes Growing Sabotage

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Concern is mounting over the persistent vandalism of railway infrastructure across Nigeria following another disturbing incident in Jos, Plateau State.

A truck reportedly conveying stolen railway materials was said to have become stuck along the Kuru axis, drawing attention to the activities of vandals sabotaging critical transportation infrastructure in the country.

The incident has renewed calls for urgent government intervention as experts warn that continued attacks on railway facilities could negatively affect national development and public safety.

Railway tracks and related materials are regarded as essential national assets designed to support economic activities, improve transportation and boost regional connectivity. Their destruction, analysts say, amounts to economic sabotage and a setback to Nigeria’s infrastructure development goals.

There are growing fears that criminal networks are increasingly targeting railway installations in parts of North Central and North East Nigeria, threatening train operations and exposing commuters to danger.

Stakeholders are now urging authorities to intensify monitoring, deploy advanced security systems and strengthen enforcement measures to curb the menace.

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Ekiti APC: Controversy Trail Cyril Fasuyi’s Second-Term Ticket as Fayemi, Oyebanji Alliance Sparks Debate

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There are growing political discussions within the Ekiti State chapter of the All Progressives Congress (APC) following allegations surrounding the emergence of Senator Cyril Fasuyi for a second term ticket.

Some party members and political observers in the state have alleged that Governor Biodun Oyebanji and former Governor Dr. John Kayode Fayemi remain politically aligned despite public perceptions suggesting otherwise. According to the claims, the relationship between Governor Oyebanji and Fayemi remains cordial and influential in the state’s political structure.

Critics further alleged that Senator Cyril Fasuyi was advised to reconcile with Fayemi in order to secure support for his return bid, a move they claim eventually strengthened his chances of getting the ticket.

The development has reportedly generated concerns among some APC stakeholders, who believe certain political interests are working behind the scenes to shape the future direction of Ekiti politics ahead of upcoming political contests.

The allegations also claim that internal power struggles within the party may affect relationships with key figures at the national level, particularly supporters loyal to President Bola Ahmed Tinubu.

However, no official statement has been issued by Governor Oyebanji, Dr. Fayemi, or Senator Fasuyi regarding the allegations.

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