Here is the potential penalties for Mr Onyema based on information obtained from the Title 18 of the United States Code (USC), which is the main criminal code of the American federal government.
The maximum penalty for bank fraud (Title 18 Section 3144) is 30 years.
Mr Onyema was slammed with three counts of this, which means he could face maximum 90 years on bank fraud charges. But since the charges are likely to run concurrently, it means 30 years would be the maximum.
Attempt to commit bank fraud (Title 18 Section 1349) carries the same penalty as bank fraud itself. If Mr Onyema is found guilty of the lone count of attempted bank fraud, he could get the maximum 30 years in prison.
Three counts of credit application fraud (Title 18 Section 1014) also carry maximum 90 years’ imprisonment at 30 years per count. Again, only 30 years would apply here if the three counts run concurrently.
The maximum penalty for conspiracy to commit credit application fraud (Title 18 Section 371) is five years.
The 27 money laundering charges (Title 18 Section 3144) carry a maximum 270 years at 10 years per count. Running concurrently, Mr Onyema would get a maximum ten years here also. The 27 charges are for each of the 27 bank transfers that Mr Onyema allegedly initiated between March and November 2017.
Altogether, Mr Onyema faces 105 years from the 35 charges.
Hefty Fines—— All the charges also carry option of fines, and in some cases both fines and imprisonment. The three counts of bank fraud carry a maximum $1 million each. Attempt to commit bank fraud carries $1 million maximum.
The three counts of credit application fraud carry a maximum of $1 million per count.
The 27 counts of money laundering carry a penalty of $1 million per count.
Although fines were prescribed as one of the penalties for conspiracy to credit application fraud (Title 18 Section 371), no specific amount was stated, indicating that this would be left to the presiding judge to determine.
Based on the prescribed fines, Mr Onyema faces $27 million in potential fines if convicted, and this may be with or without prison sentence.
