OneKinGuy:
it's true, It's in US official Justice website,
https://www.justice.gov/usao-ndga/pr/ceo-nigerian-airline-indicted-bank-fraud-and-money-laundering

Almajiri1:
It would interest you to know the depth of fraud perpetrated by American oil and gas companies in Nigeria. Why can't our government grow some balls and open their books?

Incandescent:


Oh please.. We are talking of serious high level fraud not some crazy actor seeking validation for their child.

Almajiri1:

This is far deeper than you think. Once Air Peace is positioning to be in direct competition with any American interest, Trust dirty to be dug up on you.

Incandescent:


This is very unnecessary. People like you make a bore of Nairaland

linearity:


Not true.

No loan was involved, reread it again.

And the documents are only fake because the purchase of planes never occurred. Had it been the Atlanta based company ship them planes or are into the business of selling planes, these would have all been legit.

Put simply, they wanted to move his personal (no clue where he got the money, could have been legit or otherwise, but that is beside the point and the indictment is not alleging that he got it illegally) money from Nigeria to Country C, but for some reasons he is unable to do it. Maybe Country C have blacklisted transfers from Nigeria due to fraud.

So, they hatched a plan to move the money from Nigeria to the USA and from US to country C....but there is a problem, you can’t just transfer that kind of money into the US without a project tied to it, you have to categorically state the purpose and it has to be legit, otherwise it is money laundering.

Now, they have to come with a fiticious project/purpose for the transfer....luckily he owns various companies in Nigeria and a Company in Atlanta US, which is just a front. The Atlanta company raised invoices for the purchase of Airplanes, but they don’t sell Airplanes, and send the invoice to his Nigeria company.... the Nigeria company approached their bank for a Letter of Credit linked to monies already in their account and they send the letter of credit to the US company, which in turn prepare fake purchase documents, shipping documents etc and send it to them then they approach the Nigeria company to release the funds in their account to the account of the company in Atlanta US.

When the money lands the account in US, it is now a ‘clean’ money to be sent to country C.

tbaba1234:


This is Fraud, using false documents.. It is not just about seizing money, he will serve jail time if convicted.

nextstep:
Wetin happen? I don't see the fraud... can somebody please explain because he is being accused of buying airplanes for the airline... which we're seeing.

linearity:


Not true.

No loan was involved, reread it again.

And the documents are only fake because the purchase of planes never occurred. Had it been the Atlanta based company ship them planes or are into the business of selling planes, these would have all been legit.

Put simply, they wanted to move his personal (no clue where he got the money, could have been legit or otherwise, but that is beside the point and the indictment is not alleging that he got it illegally) money from Nigeria to Country C, but for some reasons he is unable to do it. Maybe Country C have blacklisted transfers from Nigeria due to fraud.

So, they hatched a plan to move the money from Nigeria to the USA and from US to country C....but there is a problem, you can’t just transfer that kind of money into the US without a project tied to it, you have to categorically state the purpose and it has to be legit, otherwise it is money laundering.

Now, they have to come with a fiticious project/purpose for the transfer....luckily he owns various companies in Nigeria and a Company in Atlanta US, which is just a front. The Atlanta company raised invoices for the purchase of Airplanes, but they don’t sell Airplanes, and send the invoice to his Nigeria company.... the Nigeria company approached their bank for a Letter of Credit linked to monies already in their account and they send the letter of credit to the US company, which in turn prepare fake purchase documents, shipping documents etc and send it to them then they approach the Nigeria company to release the funds in their account to the account of the company in Atlanta US.

When the money lands the account in US, it is now a ‘clean’ money to be sent to country C.

agabusta:


The comment below explains the latter part of the fraud. He used phony documents to transfer 20million dollars out of Nigeria.

Note that you can only transfer clean money, so he used his company in the US to make the transaction look legitimate.

The indictment stated that immediately the money landed in the US, he disbursed 16million dollars of it for various entities not related to plane purchase.

nextstep:


I searched and found it... you're right. This is serious oh

Almajiri1:

This is far deeper than you think. Once Air Peace is positioning to be in direct competition with any American interest, Trust dirty to be dug up on you.

franchasng:
This is what happened.

Onyema didn't steal America's money. He only used a false document to move money into US.

The question should be, where did the money he moved came from

Mind you, Onyema was among the real estate moguls that sold most lands in Banana Island, he sold over a hectare or more.

So $20million is a small money.

All he needs to do is get good attorneys, and provide clean evidence how the money came about and why he used fake documents of a non existent Aviation company in the US to receive money.

This is not BEC fraud.

His case is different

EgunMogaji2:
There's only very few legitimately rich people in Nigeria. Very few.

If you use machine to spray money, you're not earning legitimately.

If you throw bundles of money at a musician (one comes to mind but I don't want to die young so I won't mention the name), you;re not earning legitimately.

Nigeria is filled with fraudsters, schemers, 419ers.

USA Justice system has its eyes on Nigerians. If you've been a bad boy/girl, start to put your affairs in order. I said this before with Invictus.

linearity:


Not true.

No loan was involved, reread it again.

And the documents are only fake because the purchase of planes never occurred. Had it been the Atlanta based company ship them planes or are into the business of selling planes, these would have all been legit.

Put simply, they wanted to move his personal (no clue where he got the money, could have been legit or otherwise, but that is beside the point and the indictment is not alleging that he got it illegally) money from Nigeria to Country C, but for some reasons he is unable to do it. Maybe Country C have blacklisted transfers from Nigeria due to fraud.

So, they hatched a plan to move the money from Nigeria to the USA and from US to country C....but there is a problem, you can’t just transfer that kind of money into the US without a project tied to it, you have to categorically state the purpose and it has to be legit, otherwise it is money laundering.

Now, they have to come with a fiticious project/purpose for the transfer....luckily he owns various companies in Nigeria and a Company in Atlanta US, which is just a front. The Atlanta company raised invoices for the purchase of Airplanes, but they don’t sell Airplanes, and send the invoice to his Nigeria company.... the Nigeria company approached their bank for a Letter of Credit linked to monies already in their account and they send the letter of credit to the US company, which in turn prepare fake purchase documents, shipping documents etc and send it to them then they approach the Nigeria company to release the funds in their account to the account of the company in Atlanta US.

When the money lands the account in US, it is now a ‘clean’ money to be sent to country C.

UdechiHD:
I think he used his account to safe keep embezzled loots from some top Nigerians. Onyeama should have been smart about this. Why must you invest in aviation?

SoNature:


Story for the deities!

Stop making silly excuses for him

He should go and clear his name if he thinks he's innocent

I just kept wondering where the man was getting all the funds to order brand new airplanes from.

Meanwhile, most airlines in Nigeria buy fairly used ones because they don't have enough money

Banks are also required to inform you of any forms the IRS needs when you are making any qualifying transactions.

Deposits Of $10,000 Or More

If you make a cash or check deposit of $10,000.00 or more in one transaction, then the bank must make you fill out and file IRS form 8300. This form is also required when any related transactions made within 24 hours of each other total $10,000.00 or more, or money transactions between two parties that total $10,000.00 or more. This law was primarily created to allow the IRS to detect money laundering by criminal elements, but it applies to anyone making these types of deposits. Form 8300 must be filed within 15 days of a single deposit or the final deposit in a related series of deposits.


https://www.encyclopedia.com/articles/what-transactions-do-banks-report-to-irs/

“This case is a prime example of why IRS-CI seeks to partner and leverage its expertise in an effort to thwart those seeking to exploit our nation’s financial system,” said Thomas J. Holloman, IRS-Criminal Investigation Special Agent in Charge of the Atlanta Field Office. “With the importance of our banking system to the movement of money around the world, those attempting to use intricate schemes to commit bank fraud through the use of falsified documents and other means should know that the odds are now heavily stacked against them as law enforcement is combining its talents to protect the sanctity and integrity of the nation’s financial system.”

https://www.justice.gov/usao-ndga/pr/ceo-nigerian-airline-indicted-bank-fraud-and-money-laundering

agabusta:


The comment below explains the latter part of the fraud. He used phony documents to transfer 20million dollars out of Nigeria.

Note that you can only transfer clean money, so he used his company in the US to make the transaction look legitimate.

The indictment stated that immediately the money landed in the US, he disbursed 16million dollars of it for various entities not related to plane purchase.

fyneguy:


The implication is that the airline might just be a front for another "business" .

I'm worried. More people might be involved. He might spill it if pressed.

franchasng:
$20million isn't much for Onyema to have back then.


All he needs to do is provide evidence of how he came about the $20million he wired from his company in Nigeria to his non existent Aviation company in the US.


He just need to provide evidence of the source of the $20million he moved from Nigeria to US. I hope its not linked to any Nigerian politician

livinbygrace:
When we tell you that more than 90% of Nigerian wealthy men have been into fraud or shady deals,some gullible folks will starts arguing with their ancestors.Majority of Nigerian rich men have been into either fraud,drugs,diverting government funds, or sharp practice.Anyway,Money is money

jjman2322:


Thats not how indictments work in the USA. You cant explain or provide any document to make them kill the indicment.. This isnt EFCC.. Evidence or no evidence, the falsification of documents is called bank fraud, subject to prison term.. How dont you people understand.. USA govr spent years investigation this case and they will go to court or he pleads guilty.. Those are only two options for an indictment.. You cant "EXPLAIN" anything to USA GOV after indictment