SalamRushdie:
Oga they are not saying your Letters of Credit emanated from a fake source nor are they saying they didn't pass through Nigerian banks , they are saying you forged documents and lied about the intent you planned to use the funds because instead of jejely buying the plane you claimed you wanted you instead redistributed the same into various accounts in the US ( huge mistake) which automatically breached US anti money laundering funds.. Onyeama I will advise you get you best legal team ready as the implications of your action are more serious than you think to those Americans see below some implications of your actions sir:
.

1: You could be charged for funding Terrorism if a single dime from that money he transfered mistakenly finds it way to the hands of a terrorist and the US anti terror act is no joke.

2 .You could be charged for breaching US anti drug laws if a single dime is traced to any drug dealer even by mistake.

3. You could be charged with bringing corrupt money into the US if a single dime is traced to any politically corrupt money anywhere.

4 . AIR PEACE will hence forth find it hard to pay for it's aircrafts parts in the us as well as buy new planes because it's letters of credit will not be honored .

5 . You can forget his pending aircraft orders with Boeing and Embraer as this will not happen for now because the Americans now own both Boeing and Embraer.

This is not good for you Onyema trust me

Finally someone with some brain. How we just love propaganda on this side of the world...smh.

wink2015:


Because he is buying Brazilian aircraft the americans are jealous and they want to pull him down by fire or by force.

Lol.. who owns Embraer (Brazilian aircraft) that Air Peace is buying from? For your information, Boeing, an American company, owns it.

Cantonese:


And then hand over the assets to some individuals from the other side who will purchase them at ridiculous prices.

EFCC doesn't sell Asset, they barricade the asset and the asset rots away , causing the job loss of the employees.

ambrosedmax:
US attorneys rarely make false accusations!! They know the consequences!! I like this man!! Hope they are wrong!!

Says who?. Nigerians are funny, the way they display authority in ignorance is baffling

If we go deep you'll find out APC is behind all this. Under this administration you can't come out to help with your legit money mostly when you're not under their protection. They will come after you......

doctokwus:

Where's your source.
Without even investigating these your fairytale,I am 110% this wasn't actually the way it happened.
You people find comprehension very difficult.
State the source of this your fable here or be ashamed of lacking ability to use your God given brain to dissect the authencity of what someone likely told u.

Why are you being so rude? Learn to convey your opinions without a resort to crude language.

I read a lot. A bit too much. I suspect Quora.

If you disagree with what I've written, simply say you disagree as you've encountered US immigration officials who have been considerate blah blah blah. It's no big deal.

MelesZenawi:


Bad night...how?

You must really be pushing barrow in Oshodi that you have time regurgitating this line all day.


God help your hustle. Anything that will make you succeed apart from digging skulls ......I am in support of it.

Remain blessed.

be like e pain you. No be me, na people wey know you for upper iweka tell us so na the job wey you dey do there be that. you don cast for here long long na. You never know.

Kapeter:
be like e pain you. No be me, na people wey know you for upper iweka tell us so na the job wey you dey do there be that. you don cast for here long long na. You never know.

And I said that's wonderful for you to be regurgitating it means you likely have a destiny with barrow pushing at Oshodi.

Case closed.

Emmyj2g:
If we go deep you'll find out APC is behind all this. Under this administration you can't come out to help with your legit money mostly when you're not under their protection. They will come after you......

Not APC na Buhari behind it! See ignorance

Chief Onyema, my prayer is that you're vindicated. Once your hands are clean, corporate wickedness against you & Airpeace shall end in futility. Once upon a time, the US authorities came up with allegations that Saddam Hussein had stockpiled weapons of mass destruction hence, the Iraq war. Eventually, the US authorities lied. Lesson: Don't underate a state sponsored smear campaign.

grandstar:


Why are you being so rude? Learn to convey your opinions without a resort to crude language.

I read a lot. A bit too much. I suspect Quora.

If you disagree with what I've written, simply say you disagree as you've encountered US immigration officials who have been considerate blah blah blah. It's no big deal.

My annoyance and rudeness is that for someone that can use the internet and thus assumed literate,you spilled the story here because you actually believed it's true, without questioning it yourself.
One doesn't need to be in USA or live there to know when a story sounds false.
Imagine it yourself,how does it sound to you about the American border angle?
As I also rightly guessed,when asked to provide a source,you are babbling up and down.

Not up to 10 honest billionaires in Nigeria

Too bad! The USA is not Nigeria. You should have known their criminal laws before going into business with them

klever18:
sue their ass to cult

court you mean..

So, news recently carried it that the celebrated founder of Air peace, Mr Oscar Onyema has been Indicted by the USDOJ on charges of Money laundering.

Mr onyema reportedly created fictitious transactions, backed by fictitious documents between a US registered company he Controls and a set of Nigerian Entities he also happens to control (including two NGOs).

Based on evidence accumulated by the DEA, IRS CI, and USDOJ, charges were bought, and it appears our favourite airline CEO will be extradited.

I will address this crisis form two points.

The Business process Strategy and governance point, and from the Geopolitical policy point of view.

Nigerian businessmen, especially those who happened into sudden wealth, do not know how to build companies based on world class corporate governance strategies. They are micro managers who have to do everything by themselves, and will neither employ talent, nor pay for appropriate talent to help them do the needful. This is why end up getting into problem when they try to carry out intricate financial transactions using methods that seem smart to them but which they will have been advised against assuming they had the right people working for them. Instead of employing Finance Transactions and Compliance experts, Tax advisors, Money Management teams built on world class standards, they will rather go to the average guy working in a Nigerian bank, a fake "banker" who will then craft solutions that will be flagged by every AML fuzzy logic on the market.

The monies will go through, but foreign law enforcement will keep piling up evidence to use against them.

This is a Mistake Dangote will never make, and it is part of the reason he has succeeded so spectacularly, follow the rules, employ professionals, let them do it.

Oscar didn't steal money, heck, he worked for it, but by trying to play the system, he has destroyed what he has worked for for so many years and may even go to prison.

But what he is trying to do, is actually accepted practice all over the world, had he consulted McKinsey or PWC, they would have crafted a strategy for him. Apple avoided paying Taxes by parking most of their cash in Ireland, all the top five hundred companies in the world do the same thing, USDOJ has not dealt with them because they did it using loopholes in the system, that is the mistake oscar made, he did not consult the professionals, he was doing it himself, and because the funds were going through, he thought he was getting away with it....that is his biggest mistake.

On a Geopolitical policy basis, this crises must be strictly viewed as a National Security Matter, foreign authorities must not be allowed to destroyed a major Nigerian company and employer of labour based on offences that are very trivial and victimless compared to the atrocities American companies commit in Countries such as Nigeria. The Nigerian government must see this as a foreign policy matter and must make use of diplomatic channels to "die" this matter. The implications are dire, apart from unemployment issues, Nigeria will be losing on potential tax revenues from one of the Country's biggest Airline operators, if its allowed to be destroyed by a Foreing company on the excuse of its principal breaking their laws, laws that American companies break at will all over the world. We must also look at it from the view that Airpeace is a growing airline, which in coming years may be used as a soft power tool of Nigerian foreing policy, as such it must be treated as too big to fail, and supported all through.

If the Americans fail to "die" the matter, the Nigerian Ministry of Justice, FIRS, EFCC and SSS should as a matter of national security examine the practices of Western Companies with activities in Nigeria, including General Electric, Delta Airline, Chevron and Schlumberger and make their directors personally liable for all wrongdoing discovered, while also releasing press releases indicating them of Fraud.

In a proper Country with a foreign policy, this is what will happen.

Mykelhendriz:
One thing I know is that the U.S are always looking for way to frustrate Nigeria billionaires entrepreneur... because they don't believe that good things come out from Nigeria!!

They will always come out with fraud claims.. They shouldn't worry.. More billionaires are coming out from Nigeria

Just believe!!!!

Amin ooo. I'm one of the clean billionaires coming out of Nigeria in Jesus name.

It will be interesting to see how Mr Onyema will talk himself out of this mess. The simple question is was the LC used for the purpose it was raised /approved ? This looks more serious than some people think. DOJ is one hell of a department to Bleep with.

doctokwus:

My annoyance and rudeness is that for someone that can use the internet and thus assumed literate,you spilled the story here because you actually believed it's true, without questioning it yourself.
One doesn't need to be in USA or live there to know when a story sounds false.
Imagine it yourself,how does it sound to you about the American border angle?
As I also rightly guessed,when asked to provide a source,you are babbling up and down.

My story is not far fetched and I did read it online. You don't have to believe me

I just decided to Google and I found the article below. Though more serious than what that tourist allegedly did, did the border guards not behave overzealously here? Be reminded that the British aren't Mexicans. They are entitled to visas on arrival.

https://www.dailymail.co.uk/news/article-7572527/British-family-held-jail-accidentally-drove-Canada-border.html

I read the replicated message below and decide to share it here. It appears quite objective to me.

Copied!
Now guys,

I was Banker and still a finance man so I know the game. This is what played out here.

This may not be what it seems at all. It seems like a "normal " Nigerian business man practise.
Many people will be indicted if this is considered a fraud.

It is essentially a deception of the Nigerian banking system but which even bank executives are aware of and get their share and the bank loses nothing at the end of the day. The american system is not defrauded by a single penny .This is how it works.

1. Mr x wants to buy 6 airplanes for his business. The cost of air planes is $1m each so total of $6m.

2. He approaches the bank for a loan but says the planes are $12m

3. He cannot get an invoice from the airplane manufacturer for that value, so he gets his own registered company abroad to issue an invoice to his company in Nigeria for the $12m . He does not claim his company abroad is an aerioplane manufacturer, but rather an aviation trading company who will supply the planes

4. Bank gives him a properly executed loan for the naira equivalent of $12m which he has to pay back and will probably also provide some guarantees and additional security and provides the fx either by transfer or by letter of credit.

5. The $ 12m is released and transferred abroad to his company ( the seller) , the company pays the $6m to the manufacturer and actually does aquire the airplanes and $ 6m balance is sent to his own personal account.

The result is that the company in Nigeria which he owns is now obligated to pay back a loan of $12m instead of $6m and as long as they pay, everyone is happy including the banks who have given out a hefty loan and make thier interest,the senior bankers who approved it without the due diligence of insisting the invoice should be from a manufacturer and also checking international prices for such, the manufacturer who has sold airplanes and been paid and the businessman who has made a $6m dollar advance profit on his business before it even starts.

The real problem is that the business case for the airline may not be able to support the repayment of $12m in the loan period but would have done so if the loan was only $6m. The business then fails as a result, goes into liquidation, the bank has only the asset to fall back on which is in reality on the open market below the loan value, but the biz man has his $6m and is enjoying life.

Its essentially called " over invoicing" and at least 80 perrcent of business people here do it. The main difference however is that most times , the invoice comes from the manufacturer directly and the amount on top is probably about 2 to 5 percent of the real value , which after the manufacturer recieves payment, they now pay out as comission to the businessman.
I assure you many childrens FX school. fees were paid like this.

Its just that "big boys" want to take control of the whole chain and slap up hefty margins that no sane manufacturer would allow or invoice for.

He has technically not laundered any money. It is a victimless "crime" except upon himself who may have compromised his own business and saddled himself with future large loans to repay just to live large immediately,and of course bank shareholders who have to write off the bad loan if the business fails. The executives will then be called to answer how they approved such a loan.
Another failsafe option is that he takes the fx which was aquired at bank rate and then resells it on the black market for a hefty margin. Pays the bank the equivalent of $6m at bank rate imeediately reducing the naira loan to $6m and pockets the spread on the fx sale.!! This way, he has even made money ( not nearly as much as keeping the $6m) through the system without exposing his co to excessive loans !!!
This is why you see so many rich Nigerians without any real operating businss with large business that have totally failed but they are still able to live the good life with ease.

American govt will probably indict him on a technicallity of moving fumds but not really of a crime as such within their system.

So you see he is already denying it and he is right logically and legally.

doctokwus:

My annoyance and rudeness is that for someone that can use the internet and thus assumed literate,you spilled the story here because you actually believed it's true, without questioning it yourself.
One doesn't need to be in USA or live there to know when a story sounds false.
Imagine it yourself,how does it sound to you about the American border angle?
As I also rightly guessed,when asked to provide a source,you are babbling up and down.

The link below is very close to what I wrote. It may not be it but very very similar. I knew a lady was involved

https://www.cbc.ca/news/canada/british-columbia/jogger-who-accidentally-crossed-u-s-border-from-b-c-detained-for-2-weeks-1.4717060

Mykelhendriz:
One thing I know is that the U.S are always looking for way to frustrate Nigeria billionaires entrepreneur... because they don't believe that good things come out from Nigeria!!

They will always come out with fraud claims.. They shouldn't worry.. More billionaires are coming out from Nigeria

Just believe!!!!

Foolish statement. Claiming victim immediately when facts has been presented

bluefilm:


Fraud is fraud, abi no be so?

Well sha, all you Igbos sef get as una dey take see crime....

Wetin I fit dey see as crime fit be omenala for una.

c

Abeg carry your Igbos far... Nor be everybody ona meet online be part of that useless association..

Na so ona go dey form holy than thou but if dem flash touch for ona yansh, na shit go plenty there

Drug Enforcement Administration,
Internal Revenue Service Criminal Investigation,
U.S. Immigration and Customs Enforcement’s Homeland Security Investigations,
Federal Aviation Administration,
Department of Commerce,
Department of Treasury

Have some of the brightest Americans legal scholars and investigators working there.

SalamRushdie:


The American don't want to know who owns the money all they care about is that he brought suspicious funds into their country. Omo this doesn't look good

True.. But Las Las na money when the Americans Wan confiscate na dem dey find.. We know their way

Frankiss44:


True.. But Las Las na money when the Americans Wan confiscate na dem dey find.. We know their way

True all him money for American bank don enter voicemail like Buhari govt also thief Invictus Obi money when he has not been found guilty

Kapeter:
wetin concern GTB for the matter now? Leave Yoruba businesses out of your mess. Go sort out yourself in the U.S, ibo and leave Yoruba alone.

How can you say GTB is a yoruba business What is wrong with you people? What kind tribal-tribal bigotry is this Look at my moniker very well and check if I am one of those goons that engage in tribal warfare with others. God forbid!
I give you 10years (estimated time of your maturity by your statement), you will regret this kind of mentality.

One thing I know is that America does not want Nigeria or any other African countries make any significant progress. Fraud is bad, and I'm not here to defend this man or not but in all honesty, how do we explain it when politicians like Alison Maduekwe, Aluko and several other politicians that keep coming with stolen monies haven't been indicted but only successful businessmen that are helping the economy that they want to keep jailing, and destroying businesses that keep young people busy.

If I'm to look at why this man is going through this now, it's likely not unconnected with his new deal of buying Canadian made jets at Dubai Airshow instead of his usual Boeing. We all understand that Boeing is going through stress at the moment and may likely go down if care is not taken.

There's a truth that America government needs to understand, this bully wouldn't last forever and as a matter of fact, Nigeria and other nations may likely be pushed finally to stand with Russia and Co. Their economic sanctions on every nation would continue to decline as many countries like China, India and others are growing technologically. We all see how sanctions on Huawei has potential of knocking out Apple sales, Google Android on Chinese made phones and several others with Huawei's Hengmeng OS

If he gets exonerated, their apology should be as loud as their slander.


Fingers crossed

Why cant the Russians and China step up in manufacturing airplanes.....This bully from America is way too much....imagine if this same Boeing that cost people their lives were from other countries....America would have used media propaganda to kill the company.

Olominira:
One thing I know is that America does not want Nigeria or any other African countries make any significant progress. Fraud is bad, and I'm not here to defend this man or not but in all honesty, how do we explain it when politicians like Alison Maduekwe, Aluko and several other politicians that keep coming with stolen monies haven't been indicted but only successful businessmen.

Your comments are one of the few sensible ones....Their reason is simple....kill any genuine business likely to challenge American business interests. Period.

Oktane:
I read the replicated message below and decide to share it here. It appears quite objective to me.

Copied!

This may not be what it seems at all. It seems like a "normal " Nigerian business man practise.
Many people will be indicted if this is considered a fraud.

It is essentially a deception of the Nigerian banking system but which even bank executives are aware of and get their share and the bank loses nothing at the end of the day. The american system is not defrauded by a single penny .This is how it works.

1. Mr x wants to buy 6 airplanes for his business. The cost of air planes is $1m each so total of $6m.

2. He approaches the bank for a loan but says the planes are $12m

3. He cannot get an invoice from the airplane manufacturer for that value, so he gets his own registered company abroad to issue an invoice to his company in Nigeria for the $12m . He does not claim his company abroad is an aerioplane manufacturer, but rather an aviation trading company who will supply the planes

4. Bank gives him a properly executed loan for the naira equivalent of $12m which he has to pay back and will probably also provide some guarantees and additional security and provides the fx either by transfer or by letter of credit.

5. The $ 12m is released and transferred abroad to his company ( the seller) , the company pays the $6m to the manufacturer and actually does aquire the airplanes and $ 6m balance is sent to his own personal account.

This is a victimless crime.

American govt will probably indict him on a technicallity of moving fumds but not really of a crime as such within their system.

So you see he is already denying it and he is right logically and legally.

Your example has fraud written all over it, yet you claim it is not fraud

Your claim that the crime is victim-less is bizarre. There is no such thing as a victim-less crime. If the law of a land says an action constitutes a crime, then it is a crime. If an individual, as in your example, uses false information to secure a $12 million (instead of $6 million) payment from his bank, surely that is fraud. In most countries, including Nigeria and the US, obtaining money from a person through fraudulent misrepresentation is a crime. How can it not be.

Finally, this statement by you "American govt will probably indict him on a technicallity of moving fumds but not really of a crime as such within their system" is risible.

Mykelhendriz:
One thing I know is that the U.S are always looking for way to frustrate Nigeria billionaires entrepreneur... because they don't believe that good things come out from Nigeria!!

They will always come out with fraud claims.. They shouldn't worry.. More billionaires are coming out from Nigeria

Just believe!!!!

more billionaires more poverty