A Nigerian king, Oba Joseph Oloyede, has been arrested by the FBI (Federal Bureau of Investigation) in the United States. He is accused of taking $4.2 million meant for businesses struggling during the COVID-19 pandemic.
Oba Joseph Oloyede is the Apetu of Ipetumodu, a traditional ruler in Osun State, Nigeria. He was crowned in 2019 and is also a U.S. citizen. He disappeared in March 2024, and his community was left without a leader. Many people were confused about his absence, especially during important festivals.
The U.S. government says the king used fake documents to collect money meant to help businesses during COVID-19. He used his six companies, including Available Tax Services and Available Transportation, to apply for loans.
In June 2020, four of his businesses got over $100,000 each.
In October 2021, two of his businesses got $500,000 each, adding up to $1 million.
He also helped others do the same fraud and took a percentage of their money.
