U.S. Court Reschedules Sentencing Of Osun Monarch Accused Of $4.2m Fraud

LAGOS JULY 24TH (NEWSRANGERS)-Judge Boyko of the U.S. District Court for the Northern District of Ohio on Wednesday moved the sentencing of suspected fraudster Apetu of Ipetumodu, Oba Joseph Olugbenga Oloyede.

Recall that Mr. Oloyede is accused of orchestrating a $4.2 million COVID-19 relief scheme in which he allegedly falsified documents to secure business loans intended for pandemic-affected companies. U.S. prosecutors allege that the monarch diverted the funds for personal use and facilitated similar fraudulent applications for other individuals, charging commissions on loans that were successfully disbursed.

According to Peoples Gazette, Lawyer Michael Marein proposed August 29 as the new sentencing date to “procure the defendant’s medical records” for the court to take under advisement.

Originally scheduled for August 1, the sentencing was delayed after Mr. Marein requested more time to obtain the defendant’s medical records, arguing that the information was critical for the court’s consideration.

He cited a provision in U.S. law that requires all relevant documents to be filed no later than seven days before sentencing.

Mr. Marein explained that the records would not yet be ready by August 1, earmarked for sentencing, and subsequently asked the judge to adjourn sentencing to August 29.

Judge Boyko granted the request, however, moving the sentencing hearing to August 26.

Mr. Oloyede’s prolonged absence from the royal stool had ignited concerns among the people of Ipetumodu, who have had to perform key spiritual cleansing and fortification rituals without their traditional ruler.

Last year, the Oba missed the Odun Egungun and Odun Edi festivals.

It is unclear whether the Nigerian monarch, who also holds both a Nigerian and American passport, will lose his U.S. status, given that the Donald Trump administration recently released a directive to revoke the citizenship of immigrants convicted of crime.

If Mr. Oloyede, battling a 13-count fraud indictment, risks being stripped of his U.S. citizenship and deported from the country.

Osun Defender

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