Air Peace CEO Faces Fraud, Money Laundering and Obstruction Charges
U.S. authorities have escalated their case against Air Peace CEO Allen Onyema, adding new charges to the existing $20 million bank fraud allegations. The Nigerian businessman has evaded trial in an American court for five years.
A superseding indictment now accuses Onyema, who serves as Air Peace’s Chairman and founder, of obstructing justice. According to the charges, he allegedly submitted false documents to authorities in a calculated attempt to halt an ongoing investigation into bank fraud and money laundering.
Ejiroghene Eghagha, the airline’s Chief of Administration and Finance, faces similar charges for her alleged role in the scheme, highlighting the extent of the suspected conspiracy.
US Ramps Up Charges
U.S. Attorney Ryan K. Buchanan provided insight into the case in a statement on 11 October. “Onyema and his co-defendant reportedly committed additional acts of fraud in an attempt to derail our investigation. They initially used the airline as a cover for banking system fraud.”
“The diligence of our federal partners uncovered their alleged obstruction attempt, allowing us to hold them accountable for this aggravated conduct.”
The case has drawn attention from multiple law enforcement agencies. Robert J. Murphy, DEA Atlanta Division Special Agent in Charge, emphasized their intent to hold accountable those involved in fraud and money laundering schemes that threaten the integrity of financial systems.
Adding to the chorus of law enforcement voices, IRS Criminal Investigation Atlanta Field Office Assistant Special Agent in Charge Lisa Fontanette gave further comment.
Statement by Air Peace
Misuse of US Banking System
“Onyema and his accomplices allegedly misused the U.S. banking system in an effort to conceal the source of illicit funds. This superseding indictment reflects our dedication to neutralizing criminal threats to the United States from organized crime groups.”
Steven N. Schrank, Acting Special Agent in Charge of Homeland Security Investigations (HSI) Atlanta, which covers Georgia and Alabama, stressed the critical importance of truth and transparency in criminal proceedings. He reiterated their commitment to pursuing individuals who attempt to exploit the nation’s financial system and obstruct investigations.
The indictment provides a detailed account of Onyema’s alleged activities. As a Nigerian citizen and businessman, Onyema frequently visited Atlanta between 2010 and 2018. During this time, he opened several personal and business bank accounts.
Investigators claim that over $44.9 million was transferred into these Atlanta-based accounts from foreign sources. This raised red flags about the nature of these transactions.
Fraudulent Documents
From May 2016, Onyema and Eghagha allegedly orchestrated a sophisticated scheme using fake export letters of credit. They funnelled more than $20 million into Onyema’s Atlanta accounts.
These letters, purportedly for Air Peace to purchase Boeing 737 aircraft, were supported by an array of fraudulent documents. This included fake purchase agreements, bills of sale, and appraisals.
Involvement of Springfield Aviation
Central to the scheme was Springfield Aviation Company LLC. This was a Georgia-registered business owned by Onyema but managed by an individual with no connection to the aviation industry.
The company, which never actually owned any aircraft, served as a front for the alleged fraudulent activities. Eghagha’s involvement reportedly included directing the Springfield Aviation manager to sign and send false documents to banks. They also used the manager’s identity to further the fraud.
The investigation took a dramatic turn in May 2019 when Onyema discovered he was under scrutiny in the Northern District of Georgia for bank fraud.
In response, Onyema and Eghagha allegedly instructed the Springfield Aviation manager to sign a crucial business contract without dating it.
Months later, in October 2019, Onyema reportedly had his attorneys present this same contract to the government. This was falsely backdated to May 5, 2016, in a desperate attempt to halt the investigation and regain access to frozen bank accounts.
Conclusion
Both Onyema, 61, and Eghagha, 42, residents of Lagos, Nigeria, now face a range of charges. The include conspiracy to commit bank fraud, bank fraud, conspiracy to commit credit application fraud, credit application fraud, and money laundering.
Onyema alone faces 27 counts of money laundering, while Eghagha is charged with aggravated identity theft. The most recent indictment of October 8, 2024, added obstruction of justice charges to their case.
