Fraud Watch
Air Peace CEO Allen Onyema Indicted: Uncovering the Web of Bank Fraud and Money Laundering
Air Peace CEO Allen Onyema and Finance Chief Ejiroghene Eghagha Face New Charges in US Court.
Allen Onyema, Chairman and CEO of Nigerian airline Air Peace, and his Chief of Administration and Finance, Ejiroghene Eghagha, have been charged with obstruction of justice in a US federal court. The duo allegedly submitted false documents to shut down an investigation into earlier charges of bank fraud and money laundering.
Alleged Financial Scheme
Onyema is accused of using his airline company to commit fraud on the US banking system, laundering over $16 million in proceeds. He allegedly used false documents to purchase aircraft and opened multiple personal and business bank accounts in Atlanta, receiving over $44.9 million from international sources.
Initial Charges
Onyema and Eghagha were initially indicted in 2019 on charges including:
– Conspiracy to commit bank fraud
– Bank fraud
– Money laundering
– Conspiracy to commit credit application fraud
– Credit application fraud
New Obstruction Charges
The superseding indictment alleges Onyema attempted to use false documents again to derail the investigation. Onyema and Eghagha face additional charges, including:
– Obstruction of justice
– Conspiracy to obstruct justice
Investigation
The case is part of a larger effort by law enforcement to combat financial crimes and protect the US banking system. Multiple agencies are involved, including the DEA, IRS, and Homeland Security.
Trial
The defendants are presumed innocent, and the government must prove their guilt beyond a reasonable doubt at trial.
US Attorney’s Response
US Attorney Ryan K. Buchanan stated, “Onyema and his co-defendant allegedly committed additional crimes to derail the government’s investigation. The diligence of our federal investigative partners revealed the defendants’ alleged obstruction scheme.”
DEA Response
Robert J. Murphy, Special Agent in Charge of the DEA Atlanta Division, added, “These cases represent our commitment to identifying and holding accountable those engaged in fraud and money laundering.”
IRS Response
Assistant Special Agent in Charge Lisa Fontanette of the IRS-Criminal Investigation Atlanta Field Office noted, “Allegedly, Onyema and his accomplices fraudulently used the US banking system… Our dedication to neutralizing threats from criminal organizations remains unwavering.”
Trial Details
The case is criminal action number 1:19-CR-464. Onyema, 61, and Eghagha, 42, both of Lagos, Nigeria, face:
– Conspiracy to commit bank fraud
– Bank fraud
– Money laundering
– Conspiracy to commit credit application fraud
– Credit application fraud
– Obstruction of justice
– Conspiracy to obstruct justice
– Aggravated identity theft
Public Reminder
The public is reminded that the indictments only contain charges, and the defendants are presumed innocent until proven guilty beyond a reasonable doubt at trial.
Emefiele’s Trial: Witness Reveals Irregularities in Contract Award.
The Economic and Financial Crimes Commission (EFCC) prosecution witness, Stephen Salau Gana, exposed irregularities in contract awards during Godwin Emefiele’s tenure as Central Bank of Nigeria (CBN) governor.
Key Testimony
1. No competitive bidding for April 16 Investment Limited’s N99.9 million vehicle supply contract.
2. Contract exceeded CBN governor’s approval threshold (N100 million).
3. Direct procurement justified only in emergencies, sole manufacturer/distributor, or exclusive dealership cases.
4. April 16 Investment Limited met none of these conditions.
Prosecution’s Case
Emefiele faces amended 20-count charges:
1. Conspiracy
2. Criminal breach of trust
3. Forgery
4. Obtaining $6,230,000 by false pretenses
Trial Update
Justice Hamza Mu’azu adjourned the case to November 13, 2024, for continuation.
Defense and Prosecution
- Defense counsel to respond to allegations.
- Prosecution to present additional witnesses.
Stay tuned for updates on this developing story.
Court Denies Bail to Yahaya Bello’s Co-Defendants in N110.4 Billion Fraud Case.
Justice Maryanne Anenih of the Federal Capital Territory High Court in Maitama, Abuja, has dismissed the oral bail applications of Abdulsalam Hudu and Umar Oricho, co-defendants of former Kogi State Governor Yahaya Bello in a N110.4 billion fraud case brought by the Economic and Financial Crimes Commission (EFCC).
Reasons for Dismissal
The defence counsel, J.B. Daudu (SAN) and A.M. Aliyu (SAN), argued that their clients were due for release from the EFCC’s holding facility, but prosecution counsel Rotimi Oyedepo (SAN) opposed their release, citing the lack of formal written applications. Justice Anenih upheld the prosecution’s objection, emphasizing the importance of following proper legal procedures.
Background of the Case
Hudu and Oricho were arraigned on October 3, 2024, and remanded in the EFCC’s custody. Yahaya Bello, the former governor, has consistently refused to appear in court for his arraignment on 16-count charges of fraud totaling N110.4 billion.
Update on Yahaya Bello’s Case
During Thursday’s proceedings, Oyedepo informed the court that the EFCC had complied with the earlier order to publish a public summons against Yahaya Bello in a national newspaper. The court adjourned the case until November 14 and 20, 2024, for Yahaya Bello’s arraignment.
Related Developments
The Court of Appeal had previously ordered Yahaya Bello to appear for arraignment, stating that no court has the power to preclude a law enforcement agent from performing its statutory functions.
N35m Fraud Trial Adjourned: Businessman Ericbona Elio Ushie to Face Justice in December.
The trial of Ericbona Elio Ushie, a businessman accused of a N35 million fraud, has been adjourned until December 19, 2024, by Justice O.O. Abike-Fadipe of the Special Offences Court in Ikeja, Lagos. Ushie faces a 13-count charge, including stealing, obtaining under false pretenses, and forgery, for allegedly converting N35,397,000 of Calibration and Non-destructive Services Limited’s funds for personal use.
Trial Background
The Economic and Financial Crimes Commission (EFCC) arraigned Ushie on February 12, 2024. Prosecution counsel Bilikisu Buhari stated that 13 witnesses would testify against him. Defence counsel C.C. Orji applied for bail, but Justice Abike-Fadipe revoked it after viewing a viral video showing Ushie boasting about not being arrested or detained.
Latest Developments
At the October 23, 2024, proceedings, Victor Okpara (SAN) requested a variation of the bail conditions. Okpara argued passionately, and Justice Abike-Fadipe granted the application, adjourning the trial until December 19, 2024.
Charges Against Ushie
- Dishonestly converting N35,397,000 of Calibration and Non-destructive Services Limited’s funds for personal use.
- Obtaining N35,397,000 under false pretenses, claiming it was for securing a contract from the Niger Delta Development Commission (NDDC).
Ushie pleaded “not guilty” to the charges.
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