Alleged N1.3 Billion Fraud: Jude Okoye regains freedom after two months

Music executive Jude Okoye, the elder brother of the now-defunct music duo PSquare, has regained his freedom after spending two months in detention.
His brother, Paul Okoye, now popularly known as Rudeboy, shared the news of Jude’s release in an Instagram story post.
In the update, he expressed both relief and joy at how they were upset about the continuous delays in processing his bail. He wrote, “Jude is finally out after two months plus… All the efforts to frustrate his bail have finally collapsed. Welcome home, brother, and Happy birthday.”
In addition to confirmation of his release, the post revealed the emotional toll the legal battle had taken on his family. He was seen happily reuniting with his family in a video clip, and they were upset about the continuous delays in processing his bail.
On February 26, the former manager of the now-defunct P-Square duo was charged with embezzlement of more than $1 million in royalties. Court documents dated January 27 accused Mr Okoye of diverting a total of $1,019,763.87 and £34,537.59 meant for digital distribution and publishing royalties.
The money was said to be from music companies including Lex Records Limited, Kobalt Music Services Limited, and Mech Limited.
Peter testified in court that Jude had diverted ₦1.38 billion in royalties through Northside Music Ltd, which he claimed was controlled by Jude and his wife. Peter alleged he was cut off from financial decisions and denied access to the group’s earnings.
He also later clarified that his EFCC petition was directed at Jude and his wife only, not Paul; though Paul was questioned due to his ties to the company. Peter also opened up about enduring years of “betrayal” and “mental exhaustion”, while Paul criticised his twin brother for taking a family matter to law enforcement, suggesting it should have been resolved privately.
Jude, in his defence, said he had done everything possible to mend the rift between himself and his brothers, even going as far as to “sacrifice himself” just to reconcile.
He was granted bail conditions on March 3 by Justice Rahman Oshodi, who set the bail amount at N50 million. The conditions required two guarantors to pledge the same amount, who must reside within the court’s jurisdiction and show evidence of tax payments for the past three years, and he was instructed to submit their passports as he was barred from leaving the country.
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