back to top

Onyema: US Charges Air Peace CEO in Major Fraud Case

Share

Allen Onyema, the Chairman and CEO of Air Peace, has been charged with serious crimes, including obstruction of justice.

The charges come after an earlier indictment for bank fraud and money laundering.

Onyema is accused of submitting false documents to the government to end an investigation into his actions.

He is not alone in this; Ejiroghene Eghagha, the airline’s Chief of Administration and Finance, is also charged for his role in the alleged scheme.

U.S. Attorney Ryan K. Buchanan stated, “After allegedly using his airline company as a cover to commit fraud on the United States’ banking system, Onyema, along with his co-defendant, allegedly committed additional crimes of fraud in a failed attempt to derail the government’s investigation of his conduct.”

Related Posts

The situation has attracted significant media attention, raising questions about corporate accountability in Nigeria.

Onyema is a Nigerian businessman who founded Air Peace in 2013.

The airline has become a significant player in Nigeria’s aviation sector, known for its extensive domestic and international routes.

However, the recent charges could have serious implications for both Onyema and the airline.

Federal authorities allege that between 2010 and 2018, Onyema transferred more than $44.9 million into his Atlanta-based bank accounts from foreign sources.

In 2016, he and Eghagha allegedly used fraudulent export letters of credit to transfer over $20 million into their accounts.

These letters were supposedly to fund the purchase of five Boeing 737 passenger planes for Air Peace.

The problem? The supporting documents were fake.

“Allegedly, Onyema and his accomplices fraudulently used the U.S. banking system in an effort to hide the source of their ill-gotten money,” said Assistant Special Agent in Charge Lisa Fontanette from the IRS.

The company involved in the supposed aircraft purchases, Springfield Aviation Company LLC, was actually owned by Onyema.

Related Posts

The documents that supported these transactions were made up, and the company never owned any planes.

Eghagha allegedly helped orchestrate this scheme by directing the manager of Springfield Aviation to sign false documents.

The alleged fraud did not stop there.

After learning he was under investigation, Onyema and Eghagha directed the Springfield Aviation manager to sign a key business contract.

They also told her not to date the document.

In October 2019, Onyema allegedly had his lawyers present a falsified contract to the government, trying to mislead investigators.

The new charges come as part of an ongoing investigation involving several federal agencies.

These include the Drug Enforcement Administration (DEA) and the Internal Revenue Service (IRS).

Robert J. Murphy, Special Agent in Charge of the DEA Atlanta Division, emphasised the importance of accountability in such cases.

“These cases represent the continued commitment of the DEA to identify and hold accountable those who engaged in fraud and money laundering,” he stated.

The charges against Onyema and Eghagha include conspiracy to commit bank fraud, bank fraud, and money laundering.

Onyema faces an additional count of obstruction of justice and conspiracy to obstruct justice.

The indictments reveal a serious situation for both individuals.

Read more

Local News