Allen Onyema, the Chairman and CEO of Nigerian airline Air Peace, is facing fresh charges of obstruction of justice in an ongoing U.S. case involving allegations of bank fraud and money laundering. Onyema and Ejiroghene Eghagha, Air Peace’s Chief of Administration and Finance, are accused of submitting false documents in an attempt to derail the federal investigation into their financial dealings.
According to a statement from the U.S. Department of Justice, Onyema and Eghagha allegedly transferred over $20 million into U.S. bank accounts between 2016 and 2018 under the guise of purchasing Boeing 737 aircraft for Air Peace. The funds were moved using export letters of credit backed by falsified documents, including fake purchase agreements and appraisals. The company listed as the seller, Springfield Aviation, was owned by Onyema and had no legitimate involvement in aviation.
The new charges stem from efforts to obstruct the initial investigation. Federal authorities claim that Onyema directed an individual at Springfield Aviation to backdate a contract, which his legal team later submitted to U.S. authorities in an effort to stop the investigation and unfreeze his accounts.
U.S. Attorney Ryan K. Buchanan stated that Onyema used his airline as a front for fraudulent activities and tried to impede the investigation when it began to expose his actions. “The diligence of our federal investigative partners revealed the defendants’ obstruction scheme, making it possible for them to be held accountable,” Buchanan said.
The case is part of a larger operation led by the Organized Crime Drug Enforcement Task Force (OCDETF), which targets criminal organizations that threaten U.S. financial systems. Both Onyema and Eghagha maintain their innocence and will face trial, where the U.S. government must prove the charges beyond a reasonable doubt.
Onyema has consistently denied any wrongdoing, and his legal team argues that no financial institution suffered losses in connection with the alleged fraud.
This legal battle marks the continuation of a case that first came to light in 2019, when Onyema was charged with bank fraud and money laundering for allegedly moving over $44.9 million through U.S. bank accounts between 2010 and 2018 using falsified documents.
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