The United States government has intensified legal actions against Allen Ifechukwu Athan Onyema, the CEO of Nigeria’s largest airline, Air Peace, over allegations of bank fraud and money laundering. The U.S. is seeking the forfeiture of approximately $14 million in assets linked to Onyema as part of an ongoing investigation into financial crimes.
This development comes after a recent superseding indictment filed by U.S. prosecutors in the Northern District of Georgia, which accuses Onyema and his associate, Ejiroghene Eghagha, the Chief of Administration and Finance at Air Peace, of multiple counts of fraud.
According to the indictment, Onyema and Eghagha are accused of conspiring to commit bank fraud, as well as several instances of bank fraud, with the U.S. government now pushing for the forfeiture of millions of dollars in assets connected to the fraudulent schemes.
Breakdown of Assets Sought for Forfeiture
- $4,017,852.51 from a JP Morgan Chase Bank account held by Springfield Aviation Inc.
- $4,393,842.05 from a Bank of Montreal account, also associated with Springfield Aviation Inc.
- $5,634,842.04 from another Bank of Montreal account linked to Blue Stream Aero Services, Inc.
The indictment alleges that these funds were obtained through fraudulent means and are now subject to forfeiture as part of the U.S. government’s efforts to recover the proceeds of the crime.
In addition, the indictment states that if any of these assets cannot be located, have been transferred, or have diminished in value, the U.S. government will seek the forfeiture of other assets owned by Onyema and his associate equivalent to the value of the forfeitable properties.
Serious Allegations of Fraud and Money Laundering
The legal case against Onyema dates back to November 2019, when he was first indicted by U.S. authorities on charges related to fraud and money laundering. According to the U.S. government, Onyema allegedly moved millions of dollars from Nigeria to U.S. bank accounts under false pretenses, disguising the transfers as payments for airplanes.
The U.S. government claims that Onyema, along with Eghagha, used these funds to purchase luxury goods and other personal items, in violation of U.S. banking laws.
Onyema has consistently denied the charges, maintaining his innocence and vowing to fight the allegations in court. In the past, he has argued that the charges are politically motivated and intended to tarnish his reputation as one of Nigeria’s most successful entrepreneurs.
U.S. Government Intensifies Efforts
The U.S. government’s latest move to seize Onyema’s assets is part of its broader effort to crack down on financial crimes and recover funds that have been illegally obtained. The case is being overseen by U.S. Attorney Ryan K. Buchanan, with prosecutors Garrett L. Bradford and Christopher J. Huber leading the charge.
The U.S. District Court in Georgia will now decide whether to approve the forfeiture of Onyema’s assets, as the legal process continues.
Air Peace’s Future in Question
The ongoing legal troubles surrounding Onyema have cast a shadow over the future of Air Peace, one of Nigeria’s largest and most important airlines. Founded in 2013, Air Peace has grown to become a major player in the Nigerian aviation industry, with a fleet of aircraft serving both domestic and international routes.
The airline’s success has made Onyema a prominent figure in Nigeria’s business landscape. However, the legal challenges he faces in the U.S. threaten to disrupt the airline’s operations and its reputation.
Despite the mounting legal pressure, Onyema has vowed to continue running Air Peace and insists that the airline remains financially stable. However, industry experts are closely watching the case to see how it might impact the airline’s future.
