N27.5bn Fraud: Ex-Bank Chief, Atuche, Ex-Finance Officer Jailed 24 Years

LAGOS JUNE 17TH (NEWSRANGERS)-The former Managing Director of Bank PHB (now Keystone Bank), Mr. Francis Atuche standing trial for stealing the sum of N25.7 billion belonging to the bank have been found guilty of theft and sentenced to six years imprisonment.

His former Chief Financial Officer, Mr. Ugo Anyanwu standing trial alongside him was also sentenced to four years by Justice Lateefa Okunnu of the Lagos State High Court in Ikeja.

Atuche’s wife, Elizabeth standing trial with him however has been found innocent and discharge of the charges of conspiracy and stealing brought against them in a suit instituted by the Economic and Financial Crimes Commission, EFCC when they were initially arraigned on May 17, 2011.

Finally, the trial judge convicted the duo in a 12-hour long judgement which began at 9:12 a.m and stretched into the hours and minutes of 9:21 p.m on Wednesday.

The jail terms are to run consecutively.

They were convicted for 21 out 27 counts charges.

The trial judge also held that in case of conspiracy and stealing against the 2nd defendant, the prosecution failed to prove any case against her.

She added that there’s no evidence that linked her to the offence.

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Posted by on Jun 17 2021. Filed under National. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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