ALLEGED N1.3BN FRAUD: Paul Okoye drums up support for elder brother, Jude, after arraignment, remand by EFCC

Paul Okoye, one-half of the defunct music group P Square, has taken to social media to drum up support for his elder brother, Jude Okoye, following his arraignment and remand by the Economic and Financial Crimes Commission (EFCC).

On Wednesday, February 26, Jude Okoye and his company, Northside Music Ltd., were charged with seven counts of allegedly laundering N1.38 billion, $1 million, and £34,537.59.

• “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 N850,000,000.00 (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 offense contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.” One of the counts against Jude Okoye read.

READ ALSO: Deji Adeyanju bites back at Paul Okoye for calling him a social media lawyer

“That you, Jude Okoye Chigozie and Northside Music Ltd. sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly using bureau de change convert the sum of $1,019,762.87 (One million nineteen thousand, seven hundred and six-two dollars eighty-seven cents), domiciled in Access Bank Plc operated by Northside Music Lid to the naira equivalent and remitted into various bank accounts with intention of concealing that the said fund form part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 18 (2)(a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.” The second count against Jude Okoye, who pleaded not guilty to the charges against him read.

While reacting to the arraignment and remand of his elder brother, Paul Okoye, in a post shared on his Instagram page, urged Jude to stay strong, saying, ‘This too shall pass’’.

He continued by saying that this was what someone had always wanted, but he did not specify who. However, close observers have concluded that it was Peter, Paul’s twin brother, who had petitioned the EFCC after learning that Jude had established a “secret company” and was using money from their joint business to fund it.

‘‘Exactly what he wants. This too shall pass. Stay strong brother @judeengees,’’ Paul wrote on his Instagram page.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now