Jude Okoye, the elder brother of Peter and Paul Okoye from the defunct PSquare music group, was granted bail by the Federal High Court in Lagos on Monday, 3rd March.
His bail followed his arraignment by the Economic and Financial Crimes Commission (EFCC) over alleged money laundering involving ₦1.38 billion, $1 million, and £34,537.59, among other charges.
Jude, the mastermind behind Northside Music Limited, appeared before Justice Alexander Owoeye alongside his company, facing a seven-count charge. One of the charges read in part:
“That you, Jude Okoye Chigozie and Northside Music Ltd sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos worth ₦850,000,000.00 (Eight hundred and fifty million naira),”
“That you, Jude Okoye Chigozie and Northside Music Ltd sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly using bureau de change convert the sum of $1,019,762.87 (One million nineteen thousand, seven hundred and six-two dollars eighty-seven cents), domiciled in Access Bank Plc operated by Northside Music Ltd to the naira equivalent and remitted into various bank accounts to conceal that the said fund form part of the proceeds of an unlawful act.”
In a new development, the Federal High Court in Lagos granted Jude Okoye, bail set at ₦100 million.
Justice Alexander Owoeye ruled that he must provide two sureties in the same amount and is prohibited from leaving the country.
Fallout
Back in 2023, Psquare experienced yet another fallout, this time over allegations that their joint funds were being diverted by their elder brother, Jude Okoye.
In an interview, Paul Okoye revealed that Peter had him and Jude arrested by the EFCC in December 2023. However, after a thorough investigation, Paul was cleared of all allegations.
Peter, on the other hand, denied orchestrating Paul’s arrest. He accused his twin of siding with Jude to sideline and humiliate him instead of working together to reclaim their top spot in the music industry.
Jude Okoye also spoke out during an Instagram Live session, questioning why people expect him to mediate between his brothers when Peter doesn’t even respect him. He emphasized that he had distanced himself from PSquare for the past eight years and accused Peter of constantly dragging him into their disputes.
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