LordAdam16:


All business men compromise.

Even Carlos Slim the richest South American is a cartel kingpin (#5 on the Forbes List). But he kept his affairs in Latin America separate from his interests in the US (such as SafeLink--the largest Lifeline ETC) to eliminate cross-contamination. He's been watched like a hawk, he knows it, and acts accordingly. To further safeguard his interests, he's in league with the three-letter agencies (CIA/NSA/DEA) to help maintain the balance of the drug-trade.

Shareholders expect the leadership of their company to do whatever it takes to be profitable. Including breaking the law, if they can get away with it. They do not need to know the exact details because that'd amount to "conspiracy" to commit a crime.

That's why they give the C-suite generous compensation packages and stock options.

It's also why CLO's are paid extremely well, usually like CFOs and COOs. Because they are the thin line between competing and getting caught with your hand in the jar.

Allen would not have made that error today. It's embarrassing. Around $50b leaves Africa illegally each year through the usual suspects, and this dude just walks in the front door with "I AM SHADY" stapled to his forehead.

$20m in one transaction. America. To a company account you directly own. Fake documents.

Even in Nigeria, you don't act so foolishly. Madam PEJ used her domestic workers for a reason. Ayomide in LASU, Okoro in Ekpan, will not make such an error.

I'm not even mad that he implicated himself directly. He could literally pay someone $100k to put a whole lotta gone between himself and the scheme (to avoid culpability). It's that he could make such a daft error. IRS/DEA/FBI agents must have been making the discoveries and getting angry because it seemed like he was daring them.

I think he should be excommunicated until further notice. It's nothing personal, just business.

-Lord

Almajiri1:

For a start, Monarch Air Group, America Airlines. Airpeace is about announcing an aggressive project to grab a large pie in international aviation.

Ishilove:

Can you please shed light on why he is commiting a crime by moving his own money?

djdutchbrah:

Tinubu is free to visit America, he only forefeited $460k narcotics proceeds in 1993 from his account. He was not charged and convicted.
America will likely just seize the $20 million dollars allegedly laundered by Allen Onyeama if he is convicted.

baby124:

No. It will not be flagged by America if American banks did not transfer the funds. The letter of credit would have been issued by the Nigerian bank to the American bank to wire the funds to Onyema’a account. This would have triggered money laundering investigations because of the amount. You need to read up the meaning to Letter of Credit. Presenting fake documents to an American bank is a big error. Such would not have been discovered if it was a Nigerian bank.

wwwihy:
CEO of Nigerian airline indicted for bank fraud and money laundering
ATLANTA – Allen Ifechukwu Athan Onyema, the Chairman, CEO, and founder of Air Peace, a Nigerian airline, has been charged with bank fraud and money laundering for moving more than $20 million from Nigeria through United States bank accounts in a scheme involving false documents based on the purchase of airplanes. The international airline’s Chief of Administration and Finance, Ejiroghene Eghagha, has also been charged with bank fraud and committing aggravated identity theft in connection with the scheme.

“Onyema allegedly leveraged his status as a prominent business leader and airline executive while using falsified documents to commit fraud,” said U.S. Attorney Byung J. “BJay” Pak. “We will diligently protect the integrity our banking system from being corrupted by criminals, even when they disguise themselves in a cloak of international business.”

Robert J. Murphy, the Special Agent in Charge of the DEA Atlanta Field Division commented on the indictment, “Allen Onyema’s status as a wealthy businessman turned out to be a fraud. He corrupted the U.S. banking system, but his trail of deceit and trickery came to a skidding halt. DEA would like to thank the many law enforcement partners and the subsequent prosecution by the U.S. Attorney’s Office who aided in making this investigation a success.”

“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 Nigeria News 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.”

“Onyema setup various innocent sounding multi-million dollar asset purchases which were nothing more than alleged fronts for his scam,” said acting Special Agent in Charge Robert Hammer, who oversees HSI operations in Georgia and Alabama. “I’m proud to be part of a team of law enforcement agencies that come together to identify and attack criminals that attempt to profit from the exploitation of our nation’s financial systems.”

According to U.S. Attorney Pak, the indictment, and other information presented in court: Onyema, a Nigerian citizen and businessman, is the founder and Chairman of several organizations that purport to promote peace across Nigeria, including the Foundation for Ethnic Harmony, International Center for Non-Violence and Peace Development, and All-Time Peace Media Communications Limited.

Beginning in 2010, Onyema began travelling frequently to Atlanta, where he opened several personal and business bank accounts. Between 2010 and 2018, over $44.9 million was allegedly transferred into his Atlanta-based accounts from foreign sources.

Onyema is also the CEO and Chairman of Nigerian airline Air Peace, which he founded in 2013. In years following the founding of Air Peace, he traveled to the United States and purchased multiple airplanes for the airline. However, over $3 million of the funds used to purchase the aircraft allegedly came from bank accounts for Foundation for Ethnic Harmony, International Center for Non-Violence and Peace Development, All-Time Peace Media Communications Limited, and Every Child Limited.

Beginning in approximately May 2016, Onyema, together with Eghagha, allegedly used a series of export letters of credit to cause banks to transfer more than $20 million into Atlanta-based bank accounts controlled by Onyema. Naija The letters of credit were purportedly to fund the purchase of five separate Boeing 737 passenger planes by Air Peace. The letters were supported by documents such as purchase agreements, bills of sale, and appraisals proving that Air Peace was purchasing the aircraft from Springfield Aviation Company LLC, a business registered in Georgia.

However, the supporting documents were fake — Springfield Aviation Company LLC, which is owned by Onyema and managed by a person with no connection to the aviation business, never owned the aircraft, and the company that allegedly drafted the appraisals did not exist. Eghagha allegedly participated in this scheme as well, directing the Springfield Aviation manager to sign and send false documents to banks and even using the manager’s identity to further the fraud. After Onyema received the money in the United States, he allegedly laundered over $16 million of the proceeds of the fraud by transferring it to other accounts.

Allen Ifechukwu Athan Onyema, 56, of Lagos, Nigeria, and Ejiroghene Eghagha, 37, of Lagos, Nigeria, were indicted on November 19, 2019, on one count of conspiracy to commit bank fraud, three counts of bank fraud, one count of conspiracy to commit credit application fraud, and three counts of credit application fraud. Additionally, Onyema was charged with 27 counts of money laundering, and Eghagha was charged with one count of aggravated identity theft.

Members of the public are reminded that the indictment only contains charges. The defendants are presumed innocent of the charges and it will be the government’s burden to prove the defendant’s guilt beyond a reasonable doubt at trial.

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

Assistant U.S. Attorneys Garrett L. Bradford, Deputy Chief of the Narcotics and Dangerous Drugs Section and Lead Strike Force Attorney, Irina K. Dutcher, and Christopher J. Huber, Deputy Chief of the Complex Frauds Section, are prosecuting the case, with assistance from the Department of Justice’s Money Laundering and Asset Recovery Section and Office of International Affairs.

This prosecution was brought as a part of the Department of Justice’s Organized Crime Drug Enforcement Task Forces (OCDETF) Co-located Strike Forces Initiative, which enables agents from different agencies to collaborate on intelligence-driven, multi-jurisdictional operations against a continuum of priority targets and their affiliate illicit financial networks. These prosecutor-led co-located Strike Forces capitalize on the synergy created through the long-term relationships that can be forged by agents, analysts, and prosecutors who remain together over time, and they epitomize the model that has proven most effective in combating organized crime. The specific mission of the Atlanta Strike Force is to disrupt and dismantle the most significant drug trafficking and money laundering organizations designated as Consolidated Priority Organization Targets or Regional Priority Organization Targets and their affiliates impacting the Atlanta metropolitan area and the Northern District of Georgia.

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

Dedetwo:


You are a typical Nigerian with something on your shoulder. The Spring Aviation Company, LLC is not a fake company. It is a legally operated company in USA. The USA said the company is managed by someone who has no knowledge of aviation. The question is must manager have aviation experience? Hunter Biden even rose to board of BURISMA with iota of experience in energy business. The man has a legitimate business and NGO. He initially sent the money to buy Boeing product and changed his mind to secure products by Bombardier of Canada. How did Onyema defraud USA banks when the money did not originate from USA banks?

Truth234:


A whole DOJ indicted someone for fraud, a username on a faceless forum says no fraud was committed. Wow I believe you.

djdutchbrah:

Tinubu is free to visit America, he only forefeited $460k narcotics proceeds in 1993 from his account. He was not charged and convicted.
America will likely just seize the $20 million dollars allegedly laundered by Allen Onyeama if he is convicted.

lonelydora:


Maybe he allowed politicians use his account to launder money

IFezki96:





it wasn't Madagascar but Equatorial Guinea in year 2004,,

Get your facts right before spewing trash...

ProtectMyMoney:


Stop reading half and half..read and digest...it is mentioned that the Spring Aviation Company is also owned by Onyema...which means he was trying to buy Airplanes from himself.

Kenturkey048:
the fraud wasn't committed three years ago..in fact no fraud was committed..he transferred money from his Nigerian bank account to his States bank account for air bus purchase.but later changed his mind for some reasons known to him.he later transferred $16mil out of the receiving account to another of his bank account..what went wrong here was not doing the actuals with the transfered fund which prompted the financial history of his Atlanta business bank statement..

Kenturkey048:
not from himself brother....spring aviation was used as the acquiring company..He is only contracting his state company to make purchase of airlines for him..

franchasng:
You know nothing about all these things.


I am not a US resident neither am I a US citizen but I have a fully registered LLC in the US.


Secondly, google LC or Letter of Credit. It is not for obtaining loan at all.



US government problem with him is why forge the aviation certification and clearance certificates with a US registered LLC that doesn't deal on aviation or aeroplane sales or manufacture. How did you get the certificates and clearance documents you sent to the Nigerian bank that enabled them raise the LC to allow the trade and money transfer to happen


Why would you send money from an NGO bank account owned by you in a country on fraud watchlist to a US registered company bank account owned by same you


Those are his crimes not loan. No loan was given, just document forgery and fraudulent intent

ChoCho54:
True but right now, the fraud they committed is not an explanation why they are buying new planes in this harsh economy, hence my initial qoute.

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?

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?

Kenturkey048:
DOJ my foot...atleast I read the statement..all they claimed was that his LC and other documents were fake because what he claimed the money was for wasn't what he used it for,the acquiring company does not deal on airlines and is also owned by him..the person managing the acquiring company has no knowledge of airlines..How will you launder money that
is yours..??

flejnr2:
Well make them no go trace the money reach patience Jonathan account Biko! We all know Onyema has been a front for patience the real owner

Dedetwo:


Mr. Shamefulness, whether the money belonged to Air Peace or the NGO stood up by Onyema, the money is his period. Now if the LC is forged according to USA is another matter. However one wonders how USA could declare a document USA did produce as forgery. From my elementary knowledge, LC is produced by the banks of the Importer's home country. In the case, USA is not the home country of the Importer. Article also mentioned the transfer of 16 million to different banks owned by Onyema. I do not know when it became fraud to transfer money to different bank accounts owned by individual in USA.

ProtectMyMoney:


Stop reading half and half..read and digest...it is mentioned that the Spring Aviation Company is also owned by Onyema...which means he was trying to buy Airplanes from himself.

drakeli:


And do you know once their time is up, they are caught and thrown into jail. Do you know that a top Hollywood actress that has hundreds of millions of dollars just finished her jail sentence just because she paid an agent to help her daughter gain admission into one of the Ivy League universities and not by merit. That’s something we do in Nigeria with no repercussions. Another one was a thrown into jail because he paid someone to help change his child’s SAT score.

The letters were supported by documents such as purchase agreements, bills of sale, and appraisals proving that Air Peace was purchasing the aircraft from Springfield Aviation Company LLC, a business registered in Georgia.

However, the supporting documents were fake — Springfield Aviation Company LLC, which is owned by Onyema and managed by a person with no connection to the aviation business

jaxxy:

If dangote wants to buy a refinery and he gets the loan and decides to send the money to his subsidiary which can also make the payment for the refinery if and when required on his behalf what is the problem?

jaxxy:
The Americans shud let the Nigerian bank creditors worry abeg. Or did they complain they are being defrauded

TheShopKeeper:
...I can't believe this is happening...

Kenturkey048:
DOJ my foot...atleast I read the statement..all they claimed was that his LC and other documents were fake because what he claimed the money was for wasn't what he used it for,the acquiring company does not deal on airlines and is also owned by him..the person managing the acquiring company has no knowledge of airlines..How will you launder money that
is yours..??

ProtectMyMoney:


Please always read fully before you comment. What does below information in the article say?


However, the supporting documents were fake — Springfield Aviation Company LLC, which is owned by Onyema and managed by a person with no connection to the aviation