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Thursday, 17 June 2021

Ex-Bank PHB MD, Atuche Sentence To 6 Years Imprisonment Over N25.7bn Fraud


Justice Latifat Okunnu of the Ikeja High Court has sentenced Francis Atuche, a former Managing Director of the defunct Bank PHB (now Keystone Bank) to six years imprisonment for defrauding the bank of N25.7 billion belonging to the bank while he served as helmsman of the bank.

Channels TV reports that in a judgment that lasted over 10 hours on Wednesday, June 16, Justice Latifat Okunnu also sentenced Ugo Anyanwu, a former Chief Financial Officer of the bank on 21 of the 27-count amended charge of conspiracy to commit a felony and stealing to four-year imprisonment.

The judge held that the Economic and Financial Crimes Commission proved beyond reasonable doubt that the convicts committed fraud.

Okunnu, however, discharged Atuche’s wife Elizabeth, who was facing trial alongside the duo.

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