The Economic and Financial Crimes Commission, (EFCC) has arraigned elder brother and ex-manager of Paul and Peter Okoye, Jude Okoye before Justice Alexander Owoeye of the Federal High Court sitting in Ikoyi, Lagos. He was recently arraigned alongside his company, Northside Music Ltd, on a seven-count charge of allegedly laundering N1.38 billion, $1million and £34,537.59.
According to EFCC, Jude bought landed property in Ikoyi, Lagos worth N850,000,000.00, and the cash involved formed part of proceeds of unlawful act, which is a criminal offence in Nigeria.
The commission added that Okoye also used bureau de change to convert the sum of $1,019,762.87 to the naira equivalent, and remitted into various bank accounts with intention of concealing his crime.
Some of the counts read, “That you, Jude Okoye Chigozie and Northside Music Ltd sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos worth N850,000,000.00 (Eight hundred and fifty million naira) 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.
That you, Jude Okoye Chigozie and Northside Music Ltd. sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly use bureau de change to convert the sum of $1,019,762.87 (One million nineteen thousand, seven hundred and six-two dollars eighty-seven cents), domiciled in Access Bank Plc operated by Northside Music Ltd to the naira equivalent and remitted into various bank accounts with intention of concealing that the said fund form part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 18 (2)(a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Jude has since pleaded not guilty to the charges.
WOW.
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