The Economic and Financial Crimes Commission (EFCC) has re-arraigned Jude Okoye, the elder brother, and former manager of music stars, Paul and Peter Okoye (PSquare), before the Special Offences Court in Ikeja, Lagos.
The EFCC announced this development in a press release on March 4, 2024.
Jude Okoye is facing four new charges related to the alleged theft of over $1million and £34, 537.59, purportedly committed between 2016 and 2023.
The charges involve the dishonest conversion of funds received from Lex Records Limited, for digital distribution, and royalties, with the intent to deprive his brother Peter Okoye, of his rightful share.
One specific charge alleges that between 2016 and 2023, he converted $767, 544.15 intended as payment for music royalties for his personal use.
read also: EFCC arraigns Jude Okoye over alleged N1.38bn fraud
In addition to these charges, Jude Okoye is also confronting seven separate charges before the Federal High Court, Lagos, for which he recently entered a “not guilty” plea.
During the court proceedings, the prosecution requested a trial date, and sought to have him remanded in a correctional centre, while his defense counsel mentioned that a bail application was pending, and requested a brief adjournment for its consideration.
Justice Oshodi decided to remand Jude at the Ikoyi Correctional Centre, and set the bail application hearing for March 6, 2025, with the trial scheduled for May 16 and 23, 2025, respectively.
