Nigerian Pastor Caught in $4.2M Fraud Scandal-FBI Reveals Shocking Details

In a shocking revelation, the Federal Bureau of Investigation (FBI) has arrested U.S.-based Nigerian pastor, Edward Abiodun Oluwasanmi, over his alleged involvement in a $4.2 million COVID-19 relief fraud. The fraudulent scheme, which also implicates an Osun monarch, Oba Joseph Oloyede, has sent shockwaves through the Nigerian community in the United States.

How the Fraud Was Executed

Investigations revealed that Oluwasanmi and Oloyede allegedly conspired to manipulate the U.S. government's COVID-19 relief fund meant for struggling businesses. Using forged documents, the duo reportedly secured loans running into millions of dollars. The Nigerian pastor, leveraging his businesses-Dayspring Property Incorporated, Dayspring Holdings, and Dayspring Transportation-illegally obtained funds which were then diverted for personal use, violating U.S. federal laws.

Millions Funneled Into Private Accounts

Court documents show that in September 2020, Oluwasanmi transferred approximately $221,880 to acquire commercial property in South Euclid, Ohio. On October 26, 2021, he moved $1 million in relief funds into the brokerage account of his company, Dayspring Transportation. The FBI has since seized about $620,000 in fraudulently acquired assets and is working to forfeit additional funds and properties linked to the illicit transactions.

FBI Seizures and Legal Actions

In a coordinated operation, the FBI confiscated $599,250 from Oluwasanmi's Dayspring Transportation account at Fidelity Investments and nearly $20,000 from his Dayspring Property account at Key Bank on April 5, 2024. To prevent him from fleeing, U.S. authorities have revoked his travel privileges and confiscated both his Nigerian and American passports.

Oluwasanmi was indicted on a 13-count fraud charge and arrested in Cleveland in April. He was later released on a $20,000 bail with strict conditions, including mandatory trial attendance and compliance with any sentencing upon conviction. Failure to appear will result in his immediate re-arrest.

Nigerian Fraudsters Under FBI Watch

Oluwasanmi's arrest adds to a growing list of Nigerian nationals convicted of fraud in the United States. His case follows similar convictions, including Ogun State Governor Dapo Abiodun's associate, Bidemi Rufai, who recently completed his sentence in a U.S. correctional facility for similar crimes. Other infamous Nigerian fraudsters, such as Omobolanle Bombata (aka Bobo Chicago), Wale Ogundana, and Ramon 'Hushpuppi' Abbas, have also been sentenced for financial crimes in the U.S.

With this latest development, U.S. authorities continue to crack down on financial fraud involving foreign nationals, reinforcing their zero-tolerance policy for COVID-19 relief fund exploitation.