Fraud Charges: U.S. Government Seeks Forfeiture of $14 Million in Assets from Air Peace CEO Allen Onyema

The U.S. government has filed a motion seeking the forfeiture of approximately $14 million in assets belonging to Allen Ifechukwu Onyema, the Chief Executive Officer of Air Peace, in connection with serious fraud and money laundering allegations. The request was submitted to the Northern District of Georgia following a superseding indictment against Onyema and his associate, Ejiroghene Eghagha, who serves as the Chief of Administration and Finance at Air Peace.

The indictment includes multiple charges: Count One alleges conspiracy to commit bank fraud, while Counts Two through Four detail specific instances of bank fraud. Counts Five through Eight address conspiracy to commit credit application fraud and credit application fraud, respectively. Additionally, Counts Nine through Thirty-Five focus on money laundering allegations.

If found guilty on these charges, both Onyema and Eghagha may be required to forfeit any property linked to their alleged criminal activities. This includes significant amounts held in various bank accounts related to their business operations.

The U.S. government’s forfeiture request specifies amounts to be seized from several accounts:

• $4,017,852.51 from a JP Morgan Chase Bank account tied to Springfield Aviation Inc.
• $4,393,842.05 from a Bank of Montreal account also linked to Springfield Aviation Inc.
• $5,634,842.04 from another Bank of Montreal account associated with Blue Stream Aero Services, Inc.

Furthermore, the indictment states that if any of the forfeitable properties cannot be located, have been transferred, or lost value, the U.S. will pursue other assets owned by the defendants equivalent to the value of those properties.

This legal action is being overseen by U.S. Attorney Ryan K. Buchanan, with assistance from Garrett L. Bradford and Christopher J. Huber.

SK Blog previously reported that Onyema and Eghagha were first indicted in 2019 on charges including conspiracy to commit bank fraud, bank fraud, and money laundering. The original allegations claimed they used false documents to purchase aircraft and laundered over $16 million in proceeds.

In recent developments, both Onyema and Eghagha have been charged with obstruction of justice. They are accused of submitting false documents to impede an ongoing investigation into their prior bank fraud and money laundering charges.

Air Peace has responded to the renewed allegations, stating that its legal team is actively addressing the matter to ensure justice is served. The company maintains that Onyema is cooperating with U.S. authorities in relation to these fresh charges.

U.S. Attorney Buchanan emphasized the seriousness of the allegations, stating, “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.”

The indictment reveals that Onyema, who founded Air Peace in 2013, frequently traveled to Atlanta between 2010 and 2018 and is accused of opening multiple personal and business bank accounts there. Over $44.9 million is alleged to have been transferred into these accounts from various international sources.