Jude Okoye, a former manager of music duo, P-Square has been arraigned at the Federal High Court over an alleged 1.3 billion fraud.
Jude Okoye who was arraigned by the Economic and Financial Crimes Commission, (EFCC) before Justice Alexander Owoeye of the Federal High Court sitting in Ikoyi, Lagos, has been at daggers drawn with his younger brother Peter Okoye of the defunct music group over multiple allegations of misappropriations of funds running into several billions of naira.
He was arraigned on Wednesday, February 26, alongside his company, Northside Music Ltd, on a seven-count charge of allegedly laundering N1.38billion, $1million and £34,537.59.
He 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 the defendant’s remand in a correctional facility pending trial. However, Jude Okoye’s counsel, Inibehe Effiong, informed the court of a bail application and asked for a short date to enable its hearing. He also requested that the defendant be remanded in the EFCC custody pending the hearing of the application.
The prosecution counsel objected to Jude Okoye’s remand in the EFCC custody. He argued that the EFCC custody was already congested with suspects awaiting arraignment. He urged the court to remand the defendant in the correctional facility since he had taken his plea.
Justice Owoeye then adjourned the matter till February 28, 2025 for bail hearing and April 14, 2025 for trial, and ordered Jude be remanded in the Ikoyi correctional facility.
