Air Peace has firmly denied any wrongdoing by its Chairman and Chief Executive Officer, Dr. Allen Onyema, and its Chief of Finance and Administration, Mrs. Ejiro Eghagha, who have both been charged by U.S. authorities with alleged obstruction of justice. This follows an indictment from the U.S. Attorney’s Office, which accuses Onyema of submitting falsified documents to end an ongoing investigation that had previously resulted in charges of bank fraud and money laundering.
According to the U.S. Attorney’s statement, Eghagha is also implicated, allegedly taking part in the obstruction scheme alongside Onyema, as well as being involved in earlier accusations of bank fraud.
This new indictment adds to the existing $20 million bank fraud case against Onyema, which has been ongoing for the past five years. In 2019, Onyema was accused of submitting fake documents to U.S. authorities in an attempt to halt the investigation and unfreeze his bank accounts, which were connected to the alleged bank fraud.
U.S. Attorney Ryan K. Buchanan stated, “After allegedly using his airline company as a front to commit fraud against the U.S. banking system, Onyema, along with his co-defendant, is now accused of additional fraudulent activities in a failed attempt to obstruct the government’s investigation into his actions.”
The new superseding indictment accuses Onyema of fraudulently transferring over $44.9 million into accounts based in Atlanta from foreign sources between 2010 and 2018.
Additionally, between 2016 and 2017, both Onyema and Eghagha are alleged to have applied for export letters of credit to facilitate the transfer of funds from a Nigerian bank to an account held by Springfield Aviation LLC, a firm based in Atlanta and owned by Onyema.
These letters of credit were supposedly to fund Air Peace’s purchase of five Boeing 737 passenger aircraft, supported by documents such as purchase agreements, bills of sale, and appraisals. However, the indictment claims that these supporting documents were falsified.
The U.S. authorities allege that Springfield Aviation LLC never actually owned the planes and that the documents, including the appraisals, were from a company that didn’t exist. Moreover, Springfield Aviation was managed by an individual with no ties to the aviation industry.
In response to these new charges, Air Peace issued a statement on Sunday, defending its CEO Onyema and Chief of Finance Eghagha, asserting that both are innocent of all accusations. The airline described the latest charges as part of an extended legal battle stemming from earlier allegations of financial misconduct, which date back several years.
Air Peace emphasized that its legal team is actively engaged with the matter and is working diligently to ensure that justice prevails for Onyema and Eghagha. The airline reiterated its confidence in the innocence of its executives and assured the public that the legal process would ultimately clear them of all wrongdoing.
