Legal Battle Begins as Jude Okoye, P-Square Senior Brother Is Arraigned For Alleged N1.38B Fraud

The Economic and Financial Crimes Commission (EFCC) has charged Jude Okoye, the elder brother and former manager of Paul and Peter Okoye from the defunct music group P-Square, with money laundering involving N1.38 billion, $1 million, and £34,537.59.

According to a report by Channels TV, he was arraigned alongside his company, Northside Music Ltd, before Justice Alexander Owoeye at the Federal High Court in Lagos on a seven-count charge.

According to the EFCC, in 2022, Jude Okoye and Northside Music Ltd allegedly acquired a property at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, valued at N850 million. The commission claims he knew or should have known that the money used for the purchase was linked to illegal activities.

The EFCC also alleged that he indirectly converted $1,019,762.87 using a bureau de change and transferred the naira equivalent into various bank accounts. The agency accused him of doing this to conceal the origin of the funds, which were allegedly proceeds of unlawful activities.

The charges against him fall under the Money Laundering (Prevention and Prohibition) Act of 2022. If found guilty, he could face severe legal consequences.

During the court proceedings, Jude Okoye pleaded not guilty to all charges. The case is set to proceed, with further hearings expected as the legal process unfolds.