U.S. Govt Seeks Forfeiture of $14 Million Assets Linked to Air Peace CEO Allen Onyema in Fraud Case
The United States government has escalated its legal action against Allen Ifechukwu Athan Onyema, CEO of Nigeria’s largest airline, Air Peace, by seeking the forfeiture of assets valued at approximately $14 million.
This follows an amended indictment submitted to the U.S. District Court for the Northern District of Georgia, accusing Onyema and his associate, Ejiroghene Eghagha, of a range of financial crimes including bank fraud, credit application fraud, and money laundering.
Allen Onyema, Air Peace CEO, Faces New US Money Laundering Charges
The charges focus on a series of fraudulent financial transactions made between 2016 and 2018. Prosecutors allege that Onyema and Eghagha used false export letters of credit to illegally transfer over $20 million into U.S. bank accounts, ostensibly for the purchase of five Boeing 737 aircraft. The indictment claims that the company used for these transactions, Springfield Aviation, had no legitimate involvement in aviation.
According to the U.S. Department of Justice, the funds were transferred into accounts at JP Morgan Chase Bank and the Bank of Montreal, linked to Springfield Aviation and Blue Stream Aero Services Inc. The government is now seeking to recover $4.02 million from a JP Morgan Chase account and a further $9.97 million from Bank of Montreal accounts. Should these specific assets be unreachable, the U.S. authorities are prepared to seize alternative assets owned by the defendants that are equivalent in value.
Additionally, the indictment accuses Onyema and Eghagha of attempting to obstruct the federal investigation by submitting falsified documents to U.S. authorities. In one instance, they allegedly directed a manager at Springfield Aviation to backdate a contract to mislead investigators and unfreeze the associated accounts.
In response, Air Peace has maintained that its executives are innocent of all charges, emphasizing that the airline’s operations remain unaffected by the ongoing legal battle. The airline insists that Onyema and Eghagha are entitled to due process and should be presumed innocent unless proven otherwise.
The U.S. Attorney for the Northern District of Georgia, Ryan K. Buchanan, is leading the prosecution, supported by federal prosecutors Garrett L. Bradford and Christopher J. Huber. Buchanan highlighted that the charges underscore the seriousness of using fraudulent schemes to manipulate the U.S. financial system. He also noted the importance of holding individuals accountable for obstructing justice and engaging in financial misconduct on an international scale.
While this case continues to unfold, the outcome will likely have significant implications for Onyema, Air Peace, and the broader Nigerian business community. The legal proceedings mark a high-profile international case in which a major African business leader faces substantial criminal charges in the United States.
As the trial progresses, the focus will be on whether the U.S. government can substantiate its claims beyond a reasonable doubt, determining the future of Onyema’s assets and potential legal consequences.
Sources:
- U.S. District Court filings for the Northern District of Georgia
- Department of Justice statements
