Peter Okoye, younger brother of Jude Okoye, former manager of P-square group has testified against his elder brother (Jude) in alleged money laundering to the tune of N1.38 billion, $1 million and £34,537.59.
The trial begun on Monday, April 14 in a Federal High Court in Lagos. The judge in the matter is Justice Alexander Owoeye.
Jude alongside his company, Northside Music Limited, are being tried by the Economic and Financial Crimes Commission, EFCC, on seven-count charges.
His trial comes after his brother, Peter had petitioned the EFCC over alleged fraud.
One of the charges reads: “That you, Jude Okoye and Northside Music Limited sometime in 2022, in Lagos, within the jurisdiction of this court, did directly acquire a landed property known as No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos worth N850million only, which money you knew or reasonably ought to have known forms part of proceeds of unlawful act and thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Meanwhile, Jude had denied the allegations and pleaded not guilty to all charges.
At the resumed hearing of the matter, the first prosecution witness, Peter, who introduced himself as Peter Obumuneme Okoye, while being led in evidence by the prosecutor, Aso Larrys Peters, told the court, how his brother, Jude allegedly defrauded him.
In his evidence, he said: “He’s my elder brother and former manager to the group called P-square. Sometime in 2017, the group P-square disbanded, we were apart for nearly 5-years plus. In November 2021, the group came back.
“We were part for 5-years 2017-2021. P-square started in 1997-98. Before Jude became our manager, we had several managers who includes Chioma Ugochi. She managed us when we were in secondary – University studies. We also had late Bayo Odusami of Mbuntu music, he managed us for 5-years. After myself and twin brother managed ourselves for couple of months, before we decided that he (Jude) managed us and Northside Entertainment Ltd.
“So, we continued running our business and sometimes we started having issues on how he run the business. The issues were mainly on how he was the sole signatory to all our bank accounts in Ecobank, Zenith and FCMB.
“Whenever we had these issues for couples of months, I did not have access to money. Not until when Mr. Festus Keyamo, SAN, now Minister of Aviation, who was our lawyer came up that we have should have a sharing formula.
“There was a scenario that happened when we were building our houses in Ikoyi, whereby it was only defendant can signed out money. The finance of the house project was by Northwest Entertainment Ltd, but they just stopped financing my house for six months.
“The accounts were owned by the company, while the defendant was the only signatory to all the accounts. Within that six months, when we came back, I approached the defendant and my twin brother, Paul, and asked why they stopped financing my project. What I heard from them was as I left P-Square, I left the money’. With that comment, I approached our lawyer, Keyamo, who asked me that if I wanted to buy phone, I needed to ask the first defendant. All our money was in Northside Entertainment which he was the sole signatory.
“Sometimes in 2017, the group disbanded after 5 years, November 17, 2021, there was a reunion again, and this time, the defendant was no longer managing us. I discovered that there was a company similar to ours, Northside Music Limited, and by ending of 2022, I made discovery when some people wanted to acquire our albums, and these individuals demanded for our statement of account to know how much the albums generates monthly, because I don’t have access to ‘backend.’ Then I went to my twin brother, Paul, who replied ‘You know that I don’t know anything about it but Jude, I said let’s go to him, he then said he would go and meet him then I left him.”
He said a few weeks later, he approached Paul again and asked “have you contacted Jude, he said ‘Paul told him that he did not have the time’.”
Giving further testimony, he told the court that : “ Thereafter, I approached Jude again. He told me that my share of the money was with some people in South Africa. I told him I was not asking for money , but the backend and the statements of the account. But there was no positive response.”
Following this discussion, he said he then reached out to the accounts officers in both Eco Bank and Zenith Bank, respectively, but he did not get satisfactory response from them.
According to him , “The account officer at the Zenith Bank later told me that Jude told him not to send it to me. The officer added that the only way I could get it was through the court.
“I, however, discovered that the aggregators handling P-square’s Music Company were the same persons handling Paul and Peter. So, I approached Paul and told him to give them the albums of P-Square. But Jude and Paul were not comfortable with that.”
Also, Peter told the court that both Jude and Paul subsequently allowed him to give the catalogue to Mad Solution and he was assured that he would start receiving money after three months.
He said: “Three months after, I received over $22,000 USD. I was also told that both Jude and Paul had been paid.
“Until I called, I did not have an idea of a company called Northside music. I decided not to meet Jude over it. But when I approached Paul if he knew about Northside Music, he said I should check the album by Cynthia Morgan, who was then Jude’s artiste.
“When I checked Cynthia Morgan’s album, it was Northside Incorporation and not Northside Music. I then approached Jude for the same backend. He told me that it was going to take three and half months to retrieve the catalogue.
“And then forwarded the catalogue to me. My new management now sent it to people who wanted to buy it.”
According to him, “By the time it was sent to me, it only bore numbers and not figures.
“They responded that the backend had been tampered with, which suggested that the people who offered $8000 USD could not offer $500 USD,owing to the fact that the numbers had reduced.
“I went to the Corporate Affairs Commission (CAC) site, and discovered that the Directors of Northside Music were Jude Okoye and his wife. I also discovered that Jude’s wife owned 80%, while Jude owned 20%.
“On the backend, I was unable to get anything because it had been tampered with. One of those interested in buying the catalogue came to my house and invited Paul . But his response was that ‘I know Peter has told you this…When he came back after an hour, he told me that he was tired of all this and that I could do my worst.’
“But when I checked the statements of accounts from January 1, to December 2017, I discovered that those who paid money to the Access Bank account were the aggregators.”
Source: Vanguardngr.com
