Actually Onyema's case (for which he is charged) has little to do with Nigeria. He broke money laundering laws in the US. it is in the process of transferring money from one US bank to another that he broke US money laundering laws. His offence was committed in the US not Nigeria....at least the part he is being charged with. The nigerian side of the offence (fraudulent inflation of forex requests, round tripping forex and money laundering) is as usual ignored by Nigerian authorities.

Basically he opened a letter of credit in Nigeria (which is the process for obtaining forex from CBN for foreign purchases) and so in the process obtained credit from US banks and the particulars of the credit (what you say the money is for) were faudulent (because his intention was to round trip the forex). The bold part is where his offence gets commited in the US, falls under US jurisdiction and becomes a US offence.


basically he inflated the price of planes to get forex at official rate in Nigeria but the process is that your bank in Nigeria will open a L/C in a foreign bank. Basically a US bank will extend you credit pending payment by the Nigerian Bank....so now he has obtained credit in the US and his transaction is now under US jusrisdiction. but he has inflated the cost of the planes and diverted the extra dollars from the US bank to his personal account...thats money laundering. Even though the source funds in Nigeria are his funds, for that brief period when the US bank pays a company on his behalf pending the arrival of his funds from Nigeria, he has obtained credit in the Uk and has fallen under US banking laws. Nothing concern US ordinarily but because you are involving a US bank and obtaining credit from a US Bank pending settlement from CBN, then you are now under US jurisdiction and everything you say the money is for must be legit. You cannot collect credit for plane and divert the money to something else (his personal accounts), that is money laundering especially when credit is involved as that is obtaining credit by deception.

I forgot to add that in addition to the above, he created a US company "B" which he used to inflate the price of the planes he bought from the original legitimate seller company "A" so if the planes cost 1m (random figure) from company A, he used company B to buy the planes from company A and then created an invoice of 2m to CBN with company B in order to get more forex out of CBN at the official rate. This is another fraud in the US, because company B is registered in the US.

it is his own money, he had already bought the planes, it was his greed that did him because having already purchased the planes, he tried to make money off CBN (and Nigerians as if Amnesty money wasnt enough) by claiming he wants forex to buy planes he already owns and paid for and unwittingly got in trouble with US authorities. So you see the US bank effectively granted him credit (loan) for a plane he already owned and thats why he is in trouble!!!

perambulator

Kudos to perambulator for his brilliant analysis and PHD I.Q. If the average Nigerian reasoned like him we would have transformed to Netherlands,Canada or UK by now.

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Only you as op,first to comment,second to comment and third to comment on your on thread, brother u really need help but it's so unfortunate that I can't render you any.

haffaze777:
Only you as op,first to comment,second to comment and third to comment on your on thread, brother u really need help but it's so unfortunate that I can't render you any.

Cheers

While, the US never requested for the extradition of Allen Onyema; it is an established fact that there is an unproven case of laundering against him.However, there is presumably a set up in the whole scenario.

Ok

Niger Delta Amnesty Money

https://www.thecable.ng/flashback-in-2014-ex-militants-accused-onyema-kuku-of-using-amnesty-funds-to-set-up-air-peace/amp

So CBN didn't scrutinized the company B that was registered by him,it would be easy for camel to pass through the eye of needle than registered a company selling aircraft within what period of time

Then he should invite Kyari to get on his plane and the both of them should head straight to America. Also since you sound like an intelligent lawyer you can offer your legal services for his defense over there. I'm pretty sure there's an extra seat on the plane for you too

Interesting

hakeemhakeem:
So CBN didn't scrutinized the company B that was registered by him,it would be easy for camel to pass through the eye of needle than registered a company selling aircraft within what period of time

All institutions have been destroyed.