N1.3bn fraud’: Jude Okoye released after two months in prison
Jude Okoye, Psquare’s former manager, has been released from Ikoyi prison after fulfilling his bail conditions in an ongoing N1.38 billion money laundering trial.
Jude, the elder brother to music stars Peter and Paul Okoye, and Northside Music Limited, his company, face a seven-count charge before A. Owoeye of the federal high court in Ikoyi, Lagos.
The charges include allegations of laundering N1.38 billion, $1 million, and £34,537.59. He pleaded not guilty when first arraigned on February 26, 2025, and was granted bail set at N100 million.
On March 3, the Economic and Financial Crimes Commission (EFCC) filed an additional four-count charge, accusing Jude of diverting music royalties meant for his brothers.
The prosecution alleged that he fraudulently converted funds, including $767,544.15, £34,537.59, $133,566.49, and $118,652.20 for personal use, “deliberately depriving Peter of his rightful earnings”.
For these fresh charges, Jude was granted another bail of N50 million — which he had been unable to meet.
But on Wednesday evening, Paul took to his Instagram page to reveal that his older brother had been released from prison.
He shared videos of Jude leaving the prison and reuniting with his family after being away for two months.
“Jude is finally out after 2months + all their efforts to frustrate his bail has finally collapsed. Welcome home brother @judeengees And happy birthday,” he wrote.
During a recent court sitting, Peter recounted his strained business relationship with his older brother.
ORIGIN OF CONTROVERSY
The controversy began in 2017 with the feud between Paul and Peter. The rift led the brothers to split their group, Psquare, and pursue solo careers.
The twins were said to have parted ways after a disagreement on the role of Jude. Though they reunited in November 2021, their reconciliation was short-lived.
In August 2024, Paul revealed another fallout, accusing Peter of orchestrating his arrest by the anti-graft commission.
Peter, however, denied the allegations and accused Jude of diverting millions of dollars from their joint account into a secret company.
He said he was left with no choice but to involve the EFCC after Paul asked him to “do your worst” during their last conversation on the matter.
Responding to the accusations, Jude said he had done everything possible, even “sacrificing himself,” to mend the rift between his brothers.
