US Seeks Forfeiture of $14M in Assets Tied to Air Peace Boss Onyema Amid Alleged Bank Fraud, Money Laundering Case
The U.S. government is seeking to seize assets worth approximately $14 million owned by Allen Ifechukwu Athan Onyema, the CEO of Air Peace, and his associate, Ejiroghene Eghagha, in connection with a superseding indictment that accuses them of serious bank fraud and money laundering.
The charges against Onyema and Eghagha include conspiracy to commit bank fraud, bank fraud, credit application fraud, and money laundering. U.S. prosecutors are aiming to forfeit $4,017,852.51 from a JP Morgan Chase account, $4,393,842.05 from a Bank of Montreal account, and $5,634,842.04 from another Bank of Montreal account as part of the case.
According to U.S. Attorney Ryan K. Buchanan, “Onyema allegedly used his airline as a front to defraud the U.S. banking system, and along with his co-defendant, committed further fraudulent acts in an attempt to block the government’s investigation.”
The charges stem from an alleged scheme involving the use of export letters of credit to transfer over $20 million into U.S. bank accounts between 2016 and 2018 for the purchase of Boeing 737 aircraft. Investigations later uncovered falsified documents and confirmed that Springfield Aviation, a company involved in the transactions, had no legitimate role in aviation.
Following the initial charges, Onyema and Eghagha allegedly instructed a Springfield Aviation manager to sign a backdated contract in an effort to hinder the investigation and attempt to unfreeze bank accounts.
Air Peace Limited, responding to the allegations, acknowledged that the case relates to earlier accusations of financial misconduct. The airline stressed that both Onyema and Eghagha maintain their innocence and assured the public that ongoing legal proceedings will not affect the company’s operations or its commitment to safety.
As the case unfolds, Onyema and his co-defendant continue to deny any wrongdoing, and the legal process will determine the outcome of these serious allegations.
