US charges Air Peace CEO Onyema for alleged fraud, money laundering 

Allen Onyema, the Chairman and CEO of Air Peace, is currently entangled in a complex web of legal issues in the United States.

Diaspora Digital Media gathered that Onyema has been charged with bank fraud and money laundering, alongside Ejiroghene Eghagha, the airline’s Chief of Administration and Finance.

Allegations of Fraud and Money Laundering

The charges claim that Onyema and Eghagha used export letters of credit to fund the purchase of five Boeing 737 planes for Air Peace.

However, the supporting documents, including purchase agreements and appraisals, were allegedly fake.

Onyema is also accused of laundering over $16 million of the fraudulent proceeds by moving it to other accounts.

Obstruction of Justice Charges

In an attempt to derail the government’s investigation, Onyema and Eghagha allegedly submitted false documents to authorities.

He has also been accused of presenting a falsely dated contract to the government in October 2019, aiming to halt the investigation and unfreeze his bank accounts.

Investigation and Charges

The investigation involves multiple agencies, including the DEA, IRS, and Homeland Security Investigations. Onyema and Eghagha face charges including conspiracy, bank fraud, obstruction of justice and conspiracy to obstruct justice.

The case is designated as criminal action number 1:19-CR-464.

Burden of Proof

It’s essential to note that the indictments only contain charges, and the defendants are innocent until proven guilty.

The burden of proof lies with the US government at the trial.

US Attorney’s Statement

U.S. Attorney Ryan K. Buchanan emphasized, “After allegedly using his airline company as a cover to commit fraud on the United States’ banking system, Onyema, along with his co-defendant, allegedly committed additional crimes of fraud in a failed attempt to derail the government’s investigation of his conduct.”

About Air Peace

Air Peace is a Nigerian private airline founded in 2013 by Allen Onyema.

It operates scheduled and charter flights within Nigeria and to international destinations, with its headquarters in Lagos and hub at Murtala Muhammed International Airport.

The airline’s fleet includes Boeing 737-300, 737-500, and D8-400 aircraft, serving domestic routes within Nigeria, West Africa, and international routes to Europe, Asia, and the Middle East.

Air Peace has received awards, including “Best Aviation Company of the Year” (2017) and “Airline of the Year” (2018).

However, the airline faces controversy, particularly with Allen Onyema’s 2019 indictment by the US Department of Justice for bank fraud and money laundering.

Despite this, Air Peace remains one of Nigeria’s largest airlines, with expansion plans to increase its fleet and routes, including direct flights to the US, and a partnership with Boeing for 10 Boeing 737 MAX aircraft.

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