The Apetu of Ipetumodu in Osun State, Joseph Oloyede, is in the custody of the Federal Bureau of Investigation, FBI.
He has been indicted for conspiracy, wire fraud, and money laundering.
Oloyede was installed as the monarch of Ipetumodu in 2019 and frequently traveled between Nigeria and the US for royal and personal engagements.
However, he has been missing for nearly a year and was absent at three major traditional festivals, including the annual ‘egungun festival and Edi celebration’.
The US Department of Transportation has now issued a statement in which it was revealed that a grand jury indicted Oloyede and one Edward Oluwasanmi.
The documents showed that Oloyede and Oluwasanmi were arrested on April 5, 2024.
The indictment claims that from April 2020 to February 28, 2022, Oloyede and Oluwasanmi used PPP and EIDL applications that contained false information to receive monies.
They also allegedly submitted falsified tax and wage documents to support these applications.
Relevant US authorities are working with the FBI and the Internal Revenue Service Criminal Investigation, on the case.