The travails of Jude Okoye, elder brother and former manager of the disbanded music group P-Square, are far from being over as he was remanded in prison on Tuesday following his arraignment on fresh fraud charges of $1 million and £34,537.59.
Persecondnews reported on Tuesday that the Economic and Financial Crimes Commission (EFCC) had filed a four-count charge against him.
The charges allege that Okoye dishonestly converted music proceeds from three companies for personal gain, depriving his brother, Peter ‘Mr. P’ Okoye, of his rightful share.
Jude Okoye appeared before Justice Ramon Oshodi at the Ikeja High Court and entered a plea of “not guilty” to the charges brought against him.
By pleading innocence of the offences, Okoye is essentially stating that he did not commit the crime, and the burden of proof now lies with the prosecution to demonstrate his guilt beyond a reasonable doubt.
His counsel, Mr. Clement Onwuenwunor (SAN), applied for his bail, emphasizing that Okoye had already been granted bail in a related case at the Ikoyi court.
EFCC’s counsel, Mr. Mohammed Bashiru opposed the application, stating that his response was still pending.
After considering the arguments presented by both counsel, Justice Oshodi ruled that he could not hastily grant the bail application without reviewing the necessary filings.
He ordered the prosecution to file its response by the next hearing date, March 6, and scheduled the trial for May 16 and 23.
Earlier, when the case was called, the prosecuting counsel alleged that Jude Okoye and Northside Music Limited had dishonestly converted $767,544.15 for Jude’s personal use, which was meant for music digital distribution and publishing royalties paid by Lex Records Limited, thereby intending to deprive Peter Okoye of his share.
According to Bashiru, the alleged offences were committed between 2016 and 2023.
He was also accused of dishonestly converting £34,537.59, paid by Lex Records Limited for music digital distribution/publishing royalties, with the intention of permanently depriving Peter Okoye of his interest in the property.
The anti-graft agency alleged that P-Square’s ex-manager dishonestly converted $133,566.49, which was paid by Kobalt Music digital distribution /publishing royalties, with the intent to permanently deprive Peter Okoye of his special interest in the property.
It further said the defendant dishonestly converted the sum of $118,652.23, paid by Mtech limited, as payment for music digital distribution publishing royalties with intent to permanently deprive Peter Okoye of his special interest in the property.
EFCC said the offences committed by Jude Okoye contravened Sections 278 and 285 of the Lagos State Criminal Laws of 2011.
Persecondnews recalls that Jude, who is also facing a similar case of seven counts before Justice Alexander Owoeye of the Federal High Court, was granted a N100 million bail with two sureties in like sum on Monday March 3.
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