More troubles for Jude Okoye as EFCC set to arraign him for suspected $1m, £34,000 theft, amid N100m bail

More troubles are looming for Jude Okoye, the former manager of the defunct famous music group, Psquare, as EFCC set to re-arraign him.

According to reports, The Economic and Financial Crime Commission will on Tuesday arraign him on fresh charges of $1,019,763.87 and £34,537.59 theft. The commission filed the four counts before Justice Rahmon Oshodi.

The arraignment which wasn’t initially slated for Monday, couldn’t hold as the Ikoyi Correctional Centre hadn’t received any information for his arraignment at Ikeja.

The EFCC accused Jude of dishonestly converting the sum of $767,544.15 to his use, the alleged sum which was paid to Lex Records Limited as payment for music digital distribution/publishing royalties with intent to permanently deprive Peter Okoye of his special interest in the property.

He was also accused of having some time, between 2016 and 2023, dishonestly converted the sum of £34,537.59, paid by Lex Records Limited as payment for music digital distribution/publishing royalties with the intent to permanently deprive Peter Okoye of his special interest in the property.

The anti-graft agency alleged that P-Square’s ex-manager dishonestly converted the sum of $133,566.49, which sum paid by Kobalt Music digital distribution /publishing royalties with the intent to permanently deprive Peter Okoye of his special interest in the property.

According to the EFCC, the offenses committed contravened Sections 278 and 285 of the Criminal Laws of Lagos State 2011.

This arraignment is coming less than 24 hours after he was granted bail.

Kemi Filani reported last week that Jude was arraigned at FHC in Ikoyi, for an alleged N1.38 billion fraud by EFCC.

On Monday, Justice Alexander Owoeye, who presided over the case, ruled that Okoye must provide two sureties in like sum. One of the sureties must own a landed property, along with other conditions. Additionally, the court barred him from traveling out of the country.

Recall that in 2023, Psquare had fallen out again because of the joint funds being diverted by their elder brother, Jude Okoye.

In an interview, Paul recounted how Peter got him and their older brother, Jude Okoye, arrested by EFCC in December 2023. Luckily for him, after a thorough investigation conducted by the commission, he was declared innocent of all the allegations levelled against him.

Peter, however, denied Paul’s claims of arresting him. He noted how Paul, rather than joining forces with him to reclaim their number one spot in the music industry, chose to team up with their elder brother, Jude Okoye, to marginalise and humiliate him.

Defending himself, Jude, via his Instagram Live noted how people keep expecting him to settle the differences between his brothers when Peter Okoye doesn’t even respect him. He stated that he hadn’t had anything to do with Psquare in 8 years and questioned why Peter is always fond of roping him in his issues.