The chief executive officer of Air Peace, Allen Onyenma has been indicted in the US for bank fraud and money laundering.
The Nigerian businessman was accused of moving more than $20 million from Nigeria through US bank accounts in a scheme involving “false documents” based on the purchase of airplanes.
Onyema was indicted alongside Ejiroghene Eghagha, the airline’s chief of administration and finance, who is said to have committed aggravated identity theft in connection with the scheme.
According to a statement issued by the district attorney’s office on Friday, Onyema and Eghagha were indicted on November 19, 2019, on one count of conspiracy to commit bank fraud, three counts of bank fraud, one count of conspiracy to commit credit application fraud, and three counts of credit application fraud.
“Onyema allegedly leveraged his status as a prominent business leader and airline executive while using falsified documents to commit fraud,” Byung J, US attorney for the northern district of Georgia, was quoted in the statement.
“We will diligently protect the integrity our banking system from being corrupted by criminals, even when they disguise themselves in a cloak of international business.”
Robert J. Murphy, the special agent in charge of the Drug Enforcement Administration (DEA) Atlanta field division, also said: “Allen Onyema’s status as a wealthy businessman turned out to be a fraud. He corrupted the U.S. banking system, but his trail of deceit and trickery came to a skidding halt.”
Robert Hammer, another special agent, accused Onyema of setting up “various innocent sounding multi-million dollar asset purchases which were nothing more than alleged fronts for his scam”.
Onyema was said to have started travelling frequently to Atlanta, where he opened several personal and business bank accounts. Between 2010 and 2018, over $44.9 million was allegedly transferred into his Atlanta-based accounts from foreign sources.
After he founded Air Peace in 2013, Onyema was said to have gone to the US to purchase aircraft and “over $3 million of the funds used to purchase the aircraft allegedly came from bank accounts for Foundation for Ethnic Harmony, International Center for Non-Violence and Peace Development, All-Time Peace Media Communications Limited, and Every Child Limited.
“Beginning in approximately May 2016, Onyema, together with Eghagha, allegedly used a series of export letters of credit to cause banks to transfer more than $20 million into Atlanta-based bank accounts controlled by Onyema.
“The letters of credit were purportedly to fund the purchase of five separate Boeing 737 passenger planes by Air Peace. The letters were supported by documents such as purchase agreements, bills of sale, and appraisals proving that Air Peace was purchasing the aircraft from Springfield Aviation Company LLC, a business registered in Georgia.
“However, the supporting documents were fake — Springfield Aviation Company LLC, which is owned by Onyema and managed by a person with no connection to the aviation business, never owned the aircraft, and the company that allegedly drafted the appraisals did not exist.
“Eghagha allegedly participated in this scheme as well, directing the Springfield Aviation manager to sign and send false documents to banks and even using the manager’s identity to further the fraud. After Onyema received the money in the United States, he allegedly laundered over $16 million of the proceeds of the fraud by transferring it to other accounts.”
The statement, however, added that Onyema and Eghagha are presumed innocent of the charges and it will be the government’s burden to prove the guilt beyond a reasonable doubt at trial.
Source: The Cable