Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

US court releases Onyema’s transactions details, issues arrest warrant

Abiola Odutola by Abiola Odutola
November 23, 2019
in Business News, Spotlight
Air Peace Founder, Onyema denies alleged $20 million bank fraud, Onyema alleged fraud: US court issues warrant of arrest

Allen Onyema

Share on FacebookShare on TwitterShare on Linkedin

A United States court has released the details of the transactions of the Chairman, Air Peace Limited, Allen Onyema over alleged money laundering and bank fraud in the US, as it issued a warrant of arrest against him.

The warrant, which was signed by an American magistrate of US District Court of Northern District of Georgia, Justin Anand on November 19, authorised U.S. Marshals Service to take Onyema into custody.

RelatedPosts

Bread bakers to embark on a two-week strike

NAFDAC raises alarm over banned European cosmetic product, Placentyne Hair Lotion in Nigeria

What it implies: The development means Onyema may be arrested anywhere in Nigeria or the US. The reason is that the US and Nigeria have a mutual legal assistance policy that allows both countries to extradite suspects facing criminal charges. Several Nigerians have been sent to the U.S. to stand trial for alleged fraud.

Onyema alleged fraud: US court issues warrant of arrest
Allen Onyema

Case study: In August, one Temitayo Fatumbi was extradited from Nigeria and sentenced to 46 months for his role in an $8.3 million Medicare fraud scheme and related money laundering.

Fatumbi was found guilty for his role in Durable Medical Equipment (DME), which was fraudulently billed to Medicare for DME but was not medically necessary.

[READ MORE: Air Peace’s nemesis is back as an investigation into plane accident begins)

There are chances that the Economic and Financial Crimes Commission (EFCC) will wade in considering previous cases it had arrested people wanted by the U.S. Federal Bureau of Investigation for fraud or other criminal allegations.

Onyema’s case comes as U.S. authorities are recording back-to-back successes in their clampdown on Nigerians suspected of fraudulent activities there.

Nairametrics could not confirm if US authorities have sought extradition of Onyema as part of efforts to execute a warrant of arrest issued against him.

What Nigeria/US extradition says …

The Nigeria/US treaty stated that “contracting Parties engage to deliver up to each other, under certain circumstances and conditions stated in the present Treaty, and those persons who, being accused or convicted of any of the crimes or offenses enumerated in Article 3, committed within the jurisdiction of the one Party, shall be found within the territory of the other Party.”

Article 9 stipulates “the extradition shall take place only if the evidence be found sufficient, according to the laws of the High Contracting Party applied to, either to justify the committal of the prisoner for trial, in case the crime or offense had been committed in the territory of such High Contracting Party,

Details of allegations: According to the Criminal indictment document signed by United States Attorney, Byung Pak, and his assistants, the alleged fraud started around May 2016 and continuing through February 2018, in the Northern District of Georgia.It says:

  • Defendants Allen Onyema, Ejiroghene Eghagha, and others willfully have a tacit understanding with each other to commit bank fraud, an offense against the United States
  • They knowingly devise and execute and attempt to execute a scheme and artifice to defraud financial institutions the deposits of Wells Fargo Bank and JPMorgan Chase Bank NA
  • Between 2010 and 2018, the wired deposits amounting to over $44.9 million transferred from foreign accounts into Onyema’s Bank of America, Wells Fargo, and J.P. Morgan Chase accounts
  • Between 2013 and 2014, Onyema used $3 million from multiple foreign bank accounts, including several Nigerian accounts, to purchase airplanes for the Air Peace fleet
  • Between 2013 and 2016, accounts associated with his companies mentioned above transferred more than $3.8 million, which was meant to acquire, export, service aircraft, into bank accounts in the United States
  • October 2017, Wells Fargo Bank received an export letter of credit request (ILCCOCBG17O2932) from Fidelity Bank in Nigeria on behalf of applicant Air Peace for a transfer of over $3.4 million into WF 8621 held in the name of Springfield Aviation, which is owned by Onyema. The purpose of the letter of credit was purportedly to fund Air Peace’s purchase of Boeing 28561 from Springfield Aviation, an aircraft already owned by Air Peace
  • All transactions below are in violation of Title 18, United States Code, Section 1957 and Section 2:

Related

Tags: ... as Air Peace boss may be extradited to USAir PeaceAllen OnyeamaUS court

Comments 1

  1. Stanley says:
    November 25, 2019 at 12:08 am

    I hope this amounts to nothing. At least for the sake of not worsening the already dilapidated reputation of this country. How can we be calling for foreign investors when we are continually painted as being untrustworthy by the same west where most of the investors are expected to come from.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Eco Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Final countdown commences for Konga mid-year shopping festival
    • Bread bakers to embark on a two-week strike
    • Nigeria leads Rest of Africa in MultiChoice subscription revenue

    Follow us on social media:

    Recent News

    Final countdown commences for Konga mid-year shopping festival

    Final countdown commences for Konga mid-year shopping festival

    June 26, 2022
    Bread price hike looms as bakers association approves 30% increase

    Bread bakers to embark on a two-week strike

    June 26, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com