The Apetu of Ipetumodu, Oba Joseph Oloyede, has been sentenced in the United States to four years and eight months in prison after being found guilty of a multi-million-dollar COVID-19 relief fund fraud.
In a statement issued by US Department of Justice on Tuesday, the monarch was also directed to undergo three years of supervised release after completing his jail term, and to repay $4,408,543.38 as restitution.
Background
Oba Joseph Oloyede, the traditional ruler of Ipetumodu in Osun State, is a dual citizen of Nigeria and the United States. Based in Ohio, he was also known as a tax preparer and businessman in addition to his royal duties.
Education
The monarch began his early education in Ipetumodu, attending Christ Church II and C & S Modern Commercial Secondary School. He later secured a National Diploma in Accountancy from The Polytechnic, Ibadan. Oloyede went on to obtain an MBA from Enugu State University of Science and Technology and another from the University of Sarasota, Florida. He further advanced his studies with a Doctor of Business Administration (DBA) from Argosy University, Sarasota.
Career Path
Before relocating abroad, Oba Oloyede worked with financial institutions such as First Bank of Nigeria and John Holt Financial Merchant Bank. In the United States, he continued in banking before transitioning into academics, where he taught at Indiana Wesleyan University and the University of Phoenix.
Ascension to the Throne
Now aged 62, Oba Oloyede became the Apetu of Ipetumodu in November 2019, succeeding the late Oba James Adedokun Adegoke, who passed away in November 2017.
The Town of Ipetumodu
Ipetumodu is one of the notable ancient towns in Osun State. It serves as the headquarters of Ife North Local Government Area and holds cultural and historical significance within the state.