Alleged N1.38B Fra¥d: Peter is the one that has put our brother, Jude, here and I have come to bring him out — Singer Paul Okiye says as his brother is to remain in jail till March
A Federal High Court in Ikoyi, Lagos, on Friday heard the bail application of Jude Okoye, who is facing allegations of laundering N1.38 billion, $1 million, and £34,537.59.
Okoye, the elder brother and former manager of the defunct music group Psquare, was arraigned by the Economic and Financial Crimes Commission (EFCC) alongside his company, Northside Music Ltd, on a seven-count charge before Justice Alexander Owoeye.
According to the charges, Okoye allegedly used illicit funds to acquire an N850 million property in Ikoyi and laundered over $1 million through a bureau de change. He pleaded not guilty.
His lawyer, Inibehe Effiong, requested that Okoye remain in EFCC custody pending his bail hearing, but prosecution counsel Larry Peters Aso objected, citing overcrowding and urging the court to remand him in Ikoyi Correctional Facility.
During Friday’s session, the prosecution opposed bail, arguing that Okoye posed a flight risk. However, Effiong countered that his client had cooperated fully with investigators. He also informed the court that Paul ‘Rudeboy’ Okoye was present to stand as a surety.
Justice Owoeye directed Rudeboy to submit his documents and scheduled the bail ruling for March 3, with trial set for April 14.
📹: @thecableng
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