Thursday, June 17, 2021

Bank PHB ex-MD Atuche jailed six years for N25.7b fraud

 An Ikeja High Court on Wednesday sentenced a former Managing Director of the defunct Bank PHB (now Keystone Bank) Francis Atuche to six years imprisonment for N25.7 billion fraud.

The Nation

His co-defendant, Ugo Anyanwu, was also sentenced to four years imprisonment.

The duo was convicted in 21 of 27-count charges against them.

Atuche and Anyanwu were sentenced to six and four years on each of the 21 charges. The sentences will run concurrently.

Justice Lateefat Okunnu said the convicts must make restitution as contained in Count 4, noting that the amount stolen was not up to what was alleged in the charge.

The judge discharged and acquitted Atuche’s wife of charges of conspiracy and stealing.

She held that the EFCC failed to link her to the crime, adding that suspicion no matter how strong can not take the place of fact.

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