By The United States Government has charged Allen Onyema, CEO of Air Peace, with obstruction of justice.
According to a statement from the US Attorney’s Office, Northern District of Georgia, Onyema is accused of submitting false documents to obstruct an investigation into earlier charges of bank fraud and money laundering.
The statement alleges that Onyema and Ejiroghene Eghagha, Air Peace’s chief of administration and finance, orchestrated a scheme using export letters of credit to redirect more than $20 million into Atlanta-based bank accounts controlled by Onyema in May 2016.
Ryan K. Buchanan, a US attorney, stated that Onyema allegedly committed document forgery in May 2019 in an attempt to thwart the government’s investigation into their activities.
The indictment from November 19, 2019, initially charged both Onyema and Eghagha with conspiracy to commit bank fraud, multiple counts of bank fraud, conspiracy to commit credit application fraud, and credit application fraud.
Sources familiar with the case detailed that between 2010 and 2018, Onyema frequently traveled to Atlanta, where he opened personal and business bank accounts through which approximately $44.9 million was transferred from foreign sources. Starting in May 2016, Onyema and Eghagha allegedly used false export letters of credit to persuade banks to transfer funds, ostensibly for purchasing Boeing 737 aircraft for Air Peace.
The supporting documents, including purchase agreements and appraisals, were allegedly fabricated, with Springfield Aviation Company LLC, supposedly the seller, actually being owned by Onyema and managed by someone not involved in aviation. The appraisals were allegedly drafted by a non-existent company.
When the investigation into bank fraud began in 2019, Onyema and Eghagha purportedly directed the manager of Springfield Aviation to sign a business contract without dating it. Later, they allegedly presented this contract, falsely dated as signed before the bank fraud began, to authorities to halt the investigation and unfreeze accounts.
In response to the charges, Air Peace issued a statement stating that Onyema and Eghagha are innocent and that the allegations remain unproven.
They emphasized ongoing cooperation with authorities and expressed confidence in their legal team’s efforts to ensure justice prevails.
“While the charges have been expanded, it is essential to emphasize that both Dr. Onyema and Mrs. Eghagha remain innocent and these are mere allegations, and the case is still in court. Our legal team is fully engaged with the matter and is working tirelessly to ensure that justice prevails. We remain confident that, through due process, the truth will be revealed, and our CEO and co-defendant will be exonerated. It is important to note that Dr. Onyema and his legal team have consistently cooperated with authorities throughout this process,” the statement reads.
