Alleged ₦1.3bn Fraud: EFCC Arraigns P-Square’s Ex-Manager Jude Okoye

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 read: “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 &nbsp, ₦850, 000, 000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known forms part of proceeds of unlawful act and thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022”.

Efiele loses bid to stop the trial because the judge declines to dismiss her.

The amount of $1, 019, 762.87 (One million nineteen thousand, seven hundred and six-eighty-seven cents), which were transferred to various bank accounts with the intention of concealing that the money was a part of the proceeds of an unlawful act, was committed in violation of Section 18 (2) of the Money Laundering (Prevention and Prohibition) Act, 2022, and was punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 20

He pleaded “not guilty” to the charges.

The defendant’s attorney, Larry Peters Aso, requested a hearing date and the defendant’s request to be kept in the correctional facility while the trial is pending.

The defendant’s counsel, Inibehe Effiong, informed the court of a pending bail application. He requested a quick start to the hearing. In addition, Effiong requested that the defendant be placed back in the EFCC’s custody while the application is being heard.

Aso objected to the EFCC’s request to have the defendant remanded. He claimed that suspects were already awaiting arraignment in the EFCC custody. Since he had entered a plea, he urged the judge to remand the defendant to a correctional facility.

Justice Owoeye set the trial date of April 14 and the bail hearing of February 28.

Source: Channels TV