U.S. Court Issues Arrest Warrant for Air Peace CFO as FBI Brings Fresh Charges Against CEO Over Alleged Fraud Scheme

The U.S. District Court for the Northern District of Georgia has issued an arrest warrant for Ejiroghene Eghagha, the Chief of Finance and Administration at Air Peace, a prominent Nigerian airline.

This action coincides with fresh charges against Allen Onyema, the airline's CEO, as part of a superseding indictment related to a multimillion-dollar fraud scheme.

The warrant, issued on October 8, brands Mrs. Eghagha as a fugitive, mandating her immediate custody and court appearance before prosecutors can commence trial proceedings. This legal move comes in the wake of allegations that Mr. Onyema attempted to cover up fraudulent activities involving financial transactions and aircraft purchases.

According to the indictment, Mr. Onyema established Springfield Aviation in 2016 and orchestrated a complex scheme involving the purchase of five Boeing aircraft. He allegedly raised letters of credit from U.S. banks to pay Springfield for these planes, which Air Peace had already acquired. The indictment states, “The purpose of the letter of credit was purportedly to fund Air Peace’s purchase of Boeing 28721 from Springfield Aviation, an aircraft already owned by Air Peace that was never owned by Springfield.”

In a bid to evade scrutiny from U.S. law enforcement, Mr. Onyema and Mrs. Eghagha are accused of forging a contract titled “Aircraft Sales and Management Agreement between Springfield Aviation and Air Peace.” This document was backdated to 2016 to falsely suggest its existence prior to the aircraft purchases. Investigators uncovered emails indicating Mrs. Eghagha instructed a colleague to sign the agreement without dating it, further implicating both executives in the conspiracy.

The grand jury has charged Mr. Onyema and Mrs. Eghagha with conspiracy to obstruct justice and obstruction of justice. These charges have revived a case initially launched in 2019, when Mr. Onyema faced accusations of bank and wire fraud. His attempts to manipulate financial records and submit false documents to U.S. authorities have now led to renewed legal challenges.

Despite owning an airline with international routes, Mr. Onyema remains unable to travel to the U.S. or allied nations due to the active arrest warrant.

As the legal proceedings unfold, the implications for Air Peace and its leadership remain uncertain, with potential repercussions for the airline's operations and reputation on the global stage.