Alleged Fraud: U.S. Govt. Moves For Forfeiture Of Onyema’s $14m Assets

Following a recent superseding indictment against Mr Allen Onyema, the United States government has requested District Court in Northern District of Georgia to approve the forfeiture of approximately $14 million in assets from the Chief Executive Officer (CEO) of Air Peace.

The request is contained in an indictment which outlined serious allegations of fraud and money laundering against Onyema and his associate, Ejiroghene Eghagha, who is the Chief of Administration and Finance at Air Peace.

The indictment included multiple counts against the defendants as count one alleged conspiracy to commit bank fraud, while counts two to four detailed instances of bank fraud.

Similarly, count five pertained to conspiracy to commit credit application fraud, followed by counts six, seven and eight for credit application fraud in addition to counts nine to 35 which clearly addressed charges of money laundering.

If convicted of the offenses outlined in Counts One through Five, the defendants will be required to forfeit any property derived from the alleged criminal activities, including significant sums held in bank accounts tied to their businesses.

Specifically, the U.S. government seeks forfeiture of: $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 further stated that if any of the forfeitable properties cannot be located, have been transferred, or diminished in value, the U.S. intends to seek the forfeiture of other assets belonging to the defendants equivalent to the value of the forfeitable properties.

The legal actions are being pursued under the oversight of U.S. Attorney Ryan K. Buchanan, along with Garrett L. Bradford and Christopher J. Huber.

The U.S. government had indicted Allen Onyema over charges of obstruction of justice.

Onyema was said have allegedly submitted false documents to hinder a federal investigation into bank fraud and money laundering, alongside Ejiroghene Eghagha, the airline’s Chief of Administration and Finance.

The U.S. Attorney’s Office claims that Onyema and Eghagha used fraudulent export letters of credit to transfer over $20 million into U.S. bank accounts between 2016 and 2018, intended for purchasing five Boeing 737 aircraft. Investigations revealed that the documentation was falsified and that Springfield Aviation, owned by Onyema, had no legitimate role in aviation transactions.

Following the initial charges, the indictment states that Onyema and Eghagha instructed a manager at Springfield Aviation to sign a backdated contract, which was then submitted to U.S. authorities to obstruct the investigation and unfreeze bank accounts.

U.S. Attorney Ryan K. Buchanan emphasized that Onyema used his airline as a cover for fraud and attempted to impede the investigation.

Responding to the obstruction of justice indictment against Allen Onyema and Ejiroghene Eghagha, Air Peace Limited acknowledged that the charges are part of an extended legal process related to previous financial misconduct allegations, stressing that both executives remain innocent until proved guilty.