Willoughby, Medina men accused of getting $4.2 million in fraudulent coronavirus relief funds – cleveland.com

CLEVELAND, Ohio Two area men created a slew of fake businesses to get $4.2 million in fraudulent government funds meant to help small businesses and employees survive the coronavirus pandemic, according to federal prosecutors.

Joseph Oloyede, 61, of Medina, and Edward Oluwasanmi, 61, of Willoughby were charged Friday in federal court in Cleveland with conspiracy to commit wire fraud, nine counts of wire fraud and three counts of money laundering.

Both pleaded not guilty at their arraignments and were released on $20,000 unsecured bonds.

Oluwasanmis attorney, Henry Hilow, said its early in the case, and he looks forward to reviewing the evidence. A message was left for David Johnson, Oloyedes attorney.

Oloyede is the owner of Available Tax Services, Inc., a tax consultant business in Bedford Heights. Oluwasanmi owned Dayspring Transportation, a charter bus service based in South Euclid.

The duo created several other businesses that did little or no real business, lied on applications for the loans and recruited others to fill out fraudulent forms, according to the indictment.

Those who filled out the forms paid Oloyede and Oluwasanmi kickbacks for organizing the fake filings, according to court records.

Oloyede used some of the money to pay a contractor $24,473 for work on his Foote Road home, according to court records.

Oluwasanmi used $224,880 to buy a commercial property at 422 S. Green Road in South Euclid, where he moved his Dayspring business, court records say.

Prosecutors are seeking to seize Oloyedes home, which he bought in 2021 for $130,000, and Oluwasanmis commercial building.

Adam Ferrise covers federal courts at cleveland.com and The Plain Dealer. You can find his work here.

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Willoughby, Medina men accused of getting $4.2 million in fraudulent coronavirus relief funds - cleveland.com