US Indictment: Allen Onyema Accused of Fraud and Obstruction

Air Peace Boss Embroiled in $20 Million Fraud Scheme

Onyema and Eghagha are also accused of attempting to obstruct the investigation...

Air Peace CEO Allen Onyema indicted for bank fraud & money laundering. Learn about the alleged $20M scheme involving fraudulent export letters of credit & shell companies.

The U.S. government is taking further action against Allen Onyema, founder and CEO of Air Peace, following his indictment in a multi-million dollar fraud case. Onyema and his associate, Ejiroghene Eghagha, Air Peace's Chief of Administration and Finance, face serious allegations of fraud and money laundering.

To recover losses from the alleged crimes, the U.S. government has requested the forfeiture of approximately $14 million of Onyema's assets. This request is part of an indictment filed with the District Court in the Northern District of Georgia.

Allegations Against Onyema and Eghagha:

Fraud: Onyema and Eghagha allegedly engaged in fraudulent activities, including money laundering.

Money Laundering: The indictment accuses the pair of laundering funds through U.S. banks.

Asset Forfeiture: The U.S. government seeks to seize around $14 million of Onyema's assets.

These developments highlight the ongoing efforts of U.S. authorities to combat financial crimes and hold individuals accountable for their actions.

The indictment against Allen Onyema and Ejiroghene Eghagha encompasses multiple charges, including:

• Count 1: Conspiracy to commit bank fraud
• Counts 2-4: Bank fraud
• Count 5: Conspiracy to commit credit application fraud
• Counts 6-8: Credit application fraud
• Counts 9-35: Money laundering

If convicted on counts 1-5, the defendants face forfeiture of properties and assets derived from the alleged crimes, including substantial funds held in bank accounts linked to their businesses.

The indictment outlines a comprehensive case against Onyema and Eghagha, alleging a complex scheme involving bank fraud, credit application fraud, and money laundering.

Potential Consequences:

• Forfeiture of assets and properties
• Significant financial penalties
• Criminal convictions for bank fraud, credit application fraud, and money laundering

The indictment demonstrates the commitment of U.S. authorities to prosecuting financial crimes and holding individuals accountable.

The U.S. government is going after Allen Onyema, CEO of Air Peace, in a big way. They're seeking to forfeit approximately $14 million in assets tied to Onyema and his associate, Ejiroghene Eghagha, following a superseding indictment.

Here's the breakdown of what they're looking to forfeit:

$4,017,852.51 from a JP Morgan Chase Bank account held by Springfield Aviation Inc

$4,393,842.05 from a Bank of Montreal account, also associated with Springfield Aviation Inc

$5,634,842.04 from another Bank of Montreal account linked to Blue Stream Aero Services, Inc

That's a total of around $14 million. But here's the thing: if they can't locate these specific assets or if they've been transferred or diminished in value, the U.S. government will go after other assets belonging to Onyema and Eghagha to make up for it.

The indictment is pretty serious, alleging conspiracy to commit bank fraud, bank fraud, credit application fraud, and money laundering. This is a developing story, but one thing's for sure - Onyema and Eghagha are in for a wild ride.

Allen Onyema, the CEO of Air Peace, and his associate Ejiroghene Eghagha, are facing serious charges from the US Attorney's Office. Onyema has been indicted for obstruction of justice, specifically for submitting false documents to hinder the federal investigation into bank fraud and money laundering. The investigation revealed that Onyema and Eghagha allegedly used fraudulent export letters of credit to transfer over $20 million into US bank accounts between 2016 and 2018. This money was supposedly for purchasing five Boeing 737 aircraft, but it turns out the documentation was falsified.

The Scheme

Fake Documents: Onyema's company, Springfield Aviation, was used to create fake documents, including purchase agreements, bills of sale, and appraisals.

No Legitimate Role: Springfield Aviation had no legitimate role in aviation transactions, and the company that drafted the appraisals didn't even exist.

Money Laundering: After receiving the money, Onyema allegedly laundered over $16 million by transferring it to other accounts.

The Obstruction Charges

Onyema and Eghagha are also accused of attempting to obstruct the investigation. When Onyema discovered he was under investigation in May 2019, he directed the Springfield Aviation manager to sign a key business contract without dating it. Later, in October 2019, Onyema allegedly presented the contract, falsely dated as being signed on May 5, 2016, to the government in an effort to stop the investigation and unfreeze his bank accounts. These charges are serious, and Onyema and Eghagha will need to face the consequences of their actions.

Allen Onyema, CEO of Air Peace, and his associate Ejiroghene Eghagha, are facing serious charges from the US Attorney's Office. Following the initial charges, the indictment alleges that Onyema and Eghagha instructed a Springfield Aviation manager to sign a backdated contract. This contract was then submitted to US authorities in an attempt to obstruct the investigation and unfreeze bank accounts.

However, Air Peace and Onyema have publicly denied all the charges. In a statement, the airline emphasized that Onyema and Eghagha remain innocent, and these are mere allegations. The airline's management reassured the public that these legal proceedings will not impact the safety, reliability, or day-to-day operations of Air Peace.

Air Peace's legal team is working to ensure that justice prevails, and the truth will be revealed through due process