Allen Onyema, the CEO and founder of Nigerian airline Air Peace, and his colleague Ejiroghene Eghagha have been hit with new criminal charges in the U.S. related to obstruction of justice, alongside earlier charges of bank fraud and money laundering.
Onyema, 61, and Eghagha, 42, both from Lagos, Nigeria, were charged in a superseding indictment on October 8, 2024. The new charges accuse them of obstructing a U.S. investigation into their alleged involvement in a scheme to defraud banks of millions of dollars. The two are accused of submitting false documents in an effort to end the investigation and prevent the authorities from freezing their accounts.
According to U.S. Attorney Buchanan, Onyema, who founded Air Peace in 2013, is alleged to have used fake documents to trick banks into transferring over $20 million into accounts controlled by him between 2016 and 2018. These funds were supposedly meant to purchase Boeing 737 aircraft for Air Peace but were allegedly part of a fraudulent scheme involving fake companies and forged documents.
“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,” said U.S. Attorney Ryan K. Buchanan. “The diligence of our federal investigative partners revealed the defendants’ alleged obstruction scheme, making it possible for the defendants to be held accountable for their aggravated conduct of attempting to impede a federal investigation.”
The indictment reveals that Onyema and Eghagha used export letters of credit, forged purchase agreements, and fake appraisals to secure bank transfers for planes they never actually purchased. One of the key companies involved in the fraud, Springfield Aviation Company, was reportedly owned by Onyema and had no connection to the aviation industry.
The two men allegedly laundered over $16 million from the scheme by moving the funds between various bank accounts. When they discovered they were under investigation for bank fraud in 2019, they attempted to cover up their tracks by submitting false documents to authorities, including a backdated business contract.
“Allegedly, Onyema and his accomplices fraudulently used the U.S. banking system in an effort to hide the source of their ill-gotten money,” said Assistant Special Agent in Charge Lisa Fontanette, Internal Revenue Service – Criminal Investigation Atlanta Field Office. “Today’s superseding indictment is indicative of the dedication IRS-CI special agents and our law enforcement partners have, as part of the Organized Crime Drug Enforcement Task Forces, to neutralize threats to the United States from criminal organizations.”
This new indictment builds on earlier charges from 2019, when Onyema and Eghagha were accused of conspiracy, bank fraud, credit application fraud, and money laundering. Onyema faced 27 counts of money laundering, while Eghagha was charged with identity theft.
The case, filed under criminal action number 1:19-CR-464, is part of an ongoing investigation into the actions of Onyema and his associates.
The charges highlight the growing scrutiny of Onyema, a prominent Nigerian businessman who has previously faced legal challenges in the United States related to his business dealings.
“The charges announced today demonstrate the criticality of diligence and truth in criminal justice proceedings,” said Steven N. Schrank, Acting Special Agent in Charge, Homeland Security Investigations Atlanta that covers Georgia and Alabama. “HSI and our partners are committed to pursuing those who seek to exploit our nation’s financial system and any efforts to cover up illegal activity.”
“These cases represent the continued commitment of the Drug Enforcement Administration to identify and hold accountable those who engaged in fraud and money laundering,” said Robert J. Murphy, Special Agent in Charge of the DEA Atlanta Division.
At the event, the Minister of Aviation and Aerospace Development, Festus Keyamo, expressed Nigeria’s Federal Government’s commitment to supporting Air Peace and other local carriers. Keyamo commended the airline for its success and resilience in the face of challenges, noting that many local airlines struggle to maintain long-term operations in the competitive aviation sector.
Both men are presumed innocent of all charges and will face trial, where the U.S. government will need to prove their guilt beyond a reasonable doubt.
