The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, the elder brother and former manager of Paul and Peter Okoye of the defunct music group, P-Square, on charges of laundering ₦1.38billion, $ 1 million and £34,537.59.
Jude was arraigned alongside his company, Northside Music Ltd, before Justice Alexander Owoeye of the Federal High Court, Lagos, on a seven-count charge
One of the counts said Jude Okoye Chigozie and Northside Music Ltd directly acquired a landed property worth ₦850,000,000.00 (Eight hundred and fifty million naira) only, with money from unlawful proceeds.
Another count read Jude Okoye and his record label sometime in 2022 indirectly used bureau de change to convert the sum of $1,019,762.87 domiciled in Access Bank Plc operated by Northside Music Ltd to the naira equivalent and remitted into various bank accounts with the intention of concealing that the said fund form part of the proceeds of an unlawful act.
Jude Okoye pleaded “not guilty” to the charges.
In view of his plea, the prosecution counsel, Larry Peters Aso, applied for a date for hearing as well as for the remand of the defendant in the correctional facility pending trial.
The defense counsel, Inibehe Effiong, informed the court of a pending bail application, requested that Okoye be remanded in the EFCC’s custody and asked for a short date for the hearing which the prosecution counsel objected.
