CLEVELAND, Ohio (WKBN) - A Medina, Ohio resident with dual American-Nigerian citizenship has been sentenced to prison after leading a conspiracy that misappropriated $4.2 million from federal loan and grant programs that were in place to assist small businesses in the wake of the COVID-19 pandemic.

According to the U.S. Attorney's Office, Joseph Oloyede, 62, was sentenced to 56 months in prison by U.S. District Judge Christopher A. Boyko on Aug. 26, after he pleaded guilty to one count of conspiracy to commit wire fraud, three counts of engaging in monetary transactions in criminally derived property, and two counts of making and subscribing a false tax return.

Oloyede will also serve three years of supervised release after his imprisonment and has been ordered to pay over $4.4 million i

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