Legal Dispute Erupts Between Psquare and Brother Over Royalties and Financial Irregularities
According to a statement by celebrity journalist, Stella Dimokokorkus, the twins, Peter and Paul Okoye, are at loggerheads over joint funds allegedly siphoned by Jude, who serves as their manager and CEO of Northside Entertainment.
The controversy reportedly began when Peter was approached by a potential buyer interested in acquiring Psquare's music catalog, comprising all their works since 2007. The buyer requested a statement of account for royalties received over the years to determine a fair price for the catalog. However, after weeks of waiting, Peter allegedly discovered that Jude had made himself the sole signatory to the Northside Entertainment account, diverting funds to a new company, Northside Music, with his wife Ifeoma as a director.
The disputed amount, estimated to be millions of dollars, includes royalties due to the singers from 2007 to date. The Economic and Financial Crimes Commission (EFCC) has been involved in the matter, and Jude's accounts in Nigeria and internationally have been frozen. Paul's attempt to side with Jude has implicated him as an accomplice, and the brothers were spotted at the EFCC office on June 6, 2024, in a heated atmosphere.
The legal dispute has led to a rift between the brothers, with Peter seeking justice and a fair share of the royalties. The outcome of this case may have significant implications for the music industry and the future of Psquare.
Sources close to the matter allege that Jude has officially agreed to fund diversion and that all his accounts have been frozen until further notice. The EFCC is investigating the matter, and the outcome may lead to criminal charges against Jude and Paul.
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