A Nigerian pastor based in the US is now cooling off in jail after being found guilty of a massive COVID-19 relief fund fraud. Edward Oluwasanmi bagged a 27-month sentence for swindling approximately $4.2 million. This isn’t your typical church offering gone wrong – it’s a full-blown financial crime that’s got everyone talking.
Here’s a quick rundown of what went down:
- Pastor Edward Oluwasanmi sentenced to 27 months in prison.
- He fraudulently obtained $4.2 million in COVID-19 relief funds.
- He used his companies to divert the funds for personal expenses.
- He submitted falsified documents to get the loans.
- The court has ordered him to forfeit $1.3 million.
The Devil is in the (Fraudulent) Details
Edward Oluwasanmi, 61, from Willoughby, Ohio, and Joseph Oloyede, 61, from Medina, Ohio, faced a 13-count indictment that included conspiracy to commit wire fraud, wire fraud, and money laundering. According to court documents, these two were quite the team in allegedly fleecing the system.
How They Pulled It Off
From April 2020 through February 2023, Oloyede and Oluwasanmi allegedly submitted bogus Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL) applications. They targeted companies under their control and filled these applications with false information.
Oluwasanmi reportedly used his companies – Dayspring Transportation Limited, Dayspring Holding Incorporated, and Dayspring Property Incorporated – to get his hands on millions. Instead of using the money as intended, he allegedly diverted it for personal expenses, which, as you might guess, is a big no-no under US federal laws.
Fake Documents, Real Trouble
To make their scheme look legit, the duo allegedly submitted falsified tax and wage documents to back up their loan applications. It’s like trying to build a house on a foundation of sand – eventually, it’s going to crumble.
Guilty Pleas and a Steep Price to Pay
In February 2025, both Oloyede and Oluwasanmi copped to some of the charges, entering into plea bargain agreements. Judge Christopher Boyko of the US District Court of Ohio Eastern Division handed Oluwasanmi a 27-month sentence on counts 1, 11, and 12 of the indictment. The sentences will run concurrently.
And it doesn’t end there. The judge also ordered the pastor to forfeit a whopping $1.3 million to the US government. That’s a serious dent in anyone’s wallet!
What’s Next for the Other Guy?
As for Joseph Oloyede, the first defendant in the case, the court is yet to deliver judgment. Keep an eye out – there’s more to this story yet.
The Bigger Picture
This case highlights the ongoing efforts to crack down on COVID-19 relief fund fraud. The US government has been under pressure to recover billions of dollars that were fraudulently obtained during the pandemic. It also serves as a reminder that no one is above the law, regardless of their position in the community.
Did you know that the US Small Business Administration (SBA) guaranteed these loans, hoping to help small businesses stay afloat during the pandemic? Unfortunately, some people saw it as an opportunity to line their own pockets.
Key Takeaways:
- Fraud Doesn’t Pay: Oluwasanmi is now paying the price for his crimes with jail time and a hefty fine.
- System Under Scrutiny: The case underscores the need for tighter controls and oversight of government relief programs.
- More to Come: The legal saga isn’t over yet, with Oloyede still awaiting judgment.