How My Brother Defrauded Me N1.3bn– Peter Of P-Square

Peter of P-Square was in court yesterday, narrating how his elder brother, Jude Okoye defrauded him to the tune of N1.3billion.

Peter, who introduced himself as Peter Obumuneme Okoye, spoke while led in evidence by the prosecutor, Aso Larrys Peters, in the trial of Jude Okoye, former Manager of Psquare group, over alleged money laundering to the tune of N1.38 billion, $1 million and £34,537.59.

The case was before a Federal High Court sitting in Lagos, where Jude alongside his company, Northside Music Limited, are being tried by the Economic and Financial Crimes Commission, EFCC, on a seven-count charge of the offences.

Trial judge in the matter is Justice Alexander Owoeye, and follows a petition written to the commission by his brother, Peter of P-Square.

In his evidence, he said: “He’s my elder brother and former manager to the group called P-square

“Sometimes in 2017, the group P-square disbanded, we were apart for nearly 5-years plus. In November 2021, the group came back.

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“We were part for 5-years 2017-2021. Psquare 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.

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“So, we continued running our business and sometimes we started having issues on how to run the business.

“The issues were mainly on how he was the sole signatory to all our bank accounts in Ecobank, Zenith and FCMB.

“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 should have a sharing formula.

“There was a scenario that happened when we were building our houses in Ikoyi, whereby it was only the defendant that 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.

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“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 generate 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 him, he then said he would go and meet him then I left him.”

According to P-Square, he approached Paul again after some time, and enquired if he had contacted their elder brother but that the twin replied that he had not had the time.

When he decided to approach Jude, the latter reportedly told him that his share of money was with some people in South Africa.

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Peter said he replied that he was not asking for money but access to the backend and the statement of accounts again, but that there was no positive response.

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One of the charges against the defendant 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.”

Jude denies the allegations and pleads not guilty to all charges.