The Federal High Court, in Lagos has granted N100m bail to Jude Okoye, the former manager of twin brothers, Peter and Paul Okoye, who were members of the defunct hip-hop group, P-square.
The Federal High Court, in Lagos on Monday granted N100m bail to Jude Okoye, the former manager of twin brothers, Peter and Paul Okoye, who were members of the defunct hip-hop group, P-square.
Justice Alexander Owoeye granted the bail with two sureties in like sum.
The court also ruled that Jude Okoye must not travel out of the country.
The judge held that one of the sureties must be an owner of a landed property amongst other conritions.
Jude Okoye, who is the elder brother to Peter and Paul Okoye, was arraigned last week Wednesday before the court by the Economic and Financial Crimes Commission on alleged crime of money laundering involving N1.38 bn, $1m, and £34,537.59.
He was arraigned alongside his company, Northside Music Limited, on seven counts preferred against him.
The Commission told the court that
the defendant alongside his Northside Music Limited sometime in 2022, in Lagos, directly acquired a landed property known as No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos worth N850,000,000.(Eight hundred and fifty million naira)the money he knew or reasonably ought to have known forms part of proceeds of unlawful activities.
Paul, who now goes by the stage name, Rude boy, was Among those who were present in court to give support to the defendant.
TVC News gathers that Jude Okoye and his firm are also Facing fresh charges before justice Rahman Oshodi of the Lagos state special offences court, ikeja, where he is accused of illegally converting about 767,544 dollars paid by one Lex Records Ltd as payment for music distribution/publishing royalties and with intent to permanently deprive his brother, Peter Okoye his special interest in the property.
He is said to have committed these latest offences between 2016 and 2023.
